Word: winings
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Most dramatic of all is the perilous situation in Australia. Its output doubled in a decade, and the country is flooded with unsold wine. And unlike France, which pays for unsold wine to be distilled into industrial alcohol, Australia has no government-subsidized buyer to bail wineries out. Mark McKenzie, executive director of the wine-grape growers trade group, says incomes for some growers have fallen 60% in the past two years. "It's as bad as I've seen it in 46 years," says Brian McGuigan, an industry veteran and founder of McGuigan Simeon Wines, the nation's second...
...account for 85% of the market, and they have reacted quickly, cutting prices and taking the financial hit early by writing down the value of their stock. Some grape growers are pruning back vines or switching to citrus or almonds. Even so, Sam Tolley, chief executive of the Australian Wine and Brandy Corporation, the government body that oversees the wine industry, reckons it will take at least an additional two years before supply and demand get back in line...
...separate appellations that are now marketed. Five big areas--Côtes de Blaye, Côtes de Bourg, Côtes de Castillon, Côtes de Francs and Côtes de Bordeaux--are planning to combine into a single, expanded Côtes de Bordeaux label. And the Interprofessional Bordeaux Wine Council, the main industry group, recently scrapped 1990s regulations that forbade vintners from making vin ordinaire from their lesser grapes. Get ready for Vin de Pays de l'Atlantique. This year marks the first harvest for it, and 65 winemakers have already signed...
...with his wife Isabelle and a decanter of his house 1996. In the Bordeaux hierarchy, Pontet-Canet isn't one of the very top châteaux, but it's still a name, thanks to an official classification dating to 1855, when the French got the jump on market segmentation. Wine merchants that year carved out the top wines, awarding Pontet-Canet 5th grand cru classé. With it came brand equity and pricing power that have lasted more than 150 years...
They may have seemed vaguely exotic a decade ago, but these days we take for granted the presence of Chilean and Argentine wines on supermarket shelves. Can any other South American wine-producing country achieve that level of international acceptance, and if so, which one? The answer may be Uruguay. The reason is that the country has a niche virtually all to itself, and that's Tannat?an obscure grape originally grown in southwestern France, and brought to Uruguay in 1870. If you're a winemaker, having a little-known but delicious varietal up your sleeve is no bad thing...