In Wine Market, a Bubble Has Burst

Industry pushes President Sarkozy for carbon emission cut

(NEWSER) - A warming world has French winemakers sweating more than a little, experts tell the Financial Times. “Current research suggests that by the end of the 21st century, one summer out of two will be at least as hot as 2003,” the year of a record-breaking heat wave that prompted early harvest and lackluster vintages, notes one scientist. Industry experts are worried enough that they penned a letter asking Nicolas Sarkozy to get behind a steep carbon emissions cut at a meeting in December. More»

Foreign buyers retool prominent Chateaus for exports to China

(NEWSER) - Mao wouldn't likely approve on a couple of fronts, but Chinese investors looking to introduce their countrymen to the best in wine are buying up storied chateaus in the heart of French wine country, the Washington Post reports. Two companies paid several million dollars each to own Chateau Richelieu and Chateau Latour-Laguens, with the intention of sending home high-end wines with deep roots in French history and culture. More»

Australia's bargain reputation hurts exports of primo stuff

(NEWSER) - Droughts, wildfires, and weak currency have hurt Australia's wine exports—but for losing their reputation as premium vintners, the Aussies have no one but themselves to blame. When $7 Yellow Tail flooded US markets three years ago, "Australia made itself synonymous with cut-rate, generic wines," Mike Steinberger writes in Slate. Some estimates place last year's dive in value of Australian wine exports to the US at 26%. More»

(NEWSER) - Today is the third Thursday of November, which makes it a holiday of sorts for wine merchants: Beaujolais Day. It's the first day of the year (as dictated by French law) that the first wine of the season—Beaujolais Nouveau, made from Gamay grapes—can be sold worldwide. Wine purists generally dismiss the stuff, but wise marketing has boosted sales. This year, however, doesn't look to be a strong one, reports the Wall Street Journal. More»

Once-tacky rosé shows staying power

(NEWSER) - Rosé wine has gone from tacky to trendy, with easy-to-swallow prices helping sales bubble up by nearly a third in the past year, compared to just a 5.1% boost for all wines. Both US and European consumers are hooked—in France, rosés are selling faster than whites, reports Portfolio. The blush boom has caught the attention of serious players, with makers in Bordeaux and other regions rushing to cash in. More»