A Vintage Year for Wine Exports

California vintners take advantage of a weak dollar to expand overseas market
By Jim O'Neill,  Newser User
Posted Feb 29, 2008 12:31 PM CST
Residences surround a vineyard in Napa, Calif. California wines, helped by the weak dollar, are floodinginto Europe.   (Associated Press)
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(Newser) – The dollar’s decline is a boon for California winemakers, who’ve turned the greenback’s challenges into opportunities, expanding exports of everything from top vintages to bulk table wines, reports the Los Angeles Times. California wine exports, 95% of the wine the US sends overseas, jumped 9% to nearly $1 billion in 2007. "American wines are a bargain,” said one analyst.

While upscale American wines typically have a tough time denting the European market, the sagging dollar—which traded at a record low of $1.52 per euro today—is prompting more sampling by Europeans. “Once that happens, they discover they like the quality of the wine,” said one US wine company exec. (Read more weak dollar stories.)