Word: pinot
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Dates: during 1970-1979
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...values added to all goods at each stage of the production and sales process. Every time a manufacturer or entrepreneur raises the price of a product, the government will tax this added value at a rate of 10 percent. Without the VAT, Ernest and Julio Gallo sell their Pinot Chardonnay to a wine distributor for $18 a case. But this tax will force the Gallo Bros. to raise the price of their wine to $20, to cover the $2 they will have to pay the government. The wine distributor then sells the Pinot Chardonnay to liquor store owners...
Lovers of Burgundy can put most of the blame for this year's price panic on the vagaries of the weather. The summer, among the coldest and wettest in memory, was a cruel one for the Pinot grapes of the Côte d'Or, the narrow Burgundy slope that produces some of the world's finest wines. Lack of sunshine prevented proper fecundation, resulting in a crop that is little more than half the size of 1977's. Yet a remarkably dry Indian summer enabled vintners to delay the harvest two or three weeks...
...recently planted vines and inexperience, their Sauvignon blanc was given top rating among New York wines tasted recently by Wine Author Alexis Bespaloff (The Fireside Book of Wine) and Vintage Magazine Publisher Philip Seldon. Seldon was also "impressed with the hints of the future" in the Hargraves' Pinot Noir...
...included such high priests as Pierre Tari, secretary-general of the Association des Grands Cms Classes, and Raymond Oliver, owner of Le Grand Vefour restaurant and doyen of French culinary writers. The wines tasted were transatlantic cousins-four white Burgundies against six California Pinot Chardonnays and four Grands Crus Chateaux reds from Bordeaux against six California Cabernet Sauvignons...
Grape prices have dropped by 25% this year, and even more for finer-quality grapes. Vintners who paid the growers $862 per ton for high-quality Cabernet Sauvignon, Chardonnay, Pinot Noir and White Riesling grapes last year are now paying only about $500. Retail price reductions for wine will be less dramatic than that because of swelling production costs. But there should be modest price cuts in the best California wines by next summer, when 1974 whites will begin to hit those overcrowded retail shelves. The reds, aged longer, should drop somewhat by the 1975 holiday season. A 15% price...