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Wine Wisdom for The Holidays Lots of Bad News - A Little Good news ... but only about Wine Prices. It certainly is hard to find much good news anywhere. The stock market and housing is suicidal. It is doing it to itself. The elections have turned into the most disgusting, immature and erratic event in history. How stupid do those guys think the American voter is. However.... contrary to what you have been led to believe, basic wine prices... for the Wines that we all buy ( Not the limited quantities Grand Cru Bordeaux or Burgundy, that those guys on Wall street can buy with their "Golden Parachutes) may be going down in the next 30 days just in time for Thanksgiving, Christmas and New Years. There are two factors at work right now. NUMBER ONE: Contrary to what you have been led to believe, the Dollar has strengthened by almost 15% against the Euro and Australia recently. European wine makers (especially Champagne) are trying to keep that a secret as they justify price increases. Don't believe it. The dollar has only continued to weaken against Japan and China. They don't make wine. At least nothing that you might drink except for Sake.
There's much more!!! France is burdened with major overproduction. Vines are being left unharvested or the grapes turned into cooking alcohol. Italy is facing a wine dilution scandal in Tuscany. Australia has had climate and production problems and is now shifting sales to Japan and China where those high currencies produce bigger profits for Australia and New Zealand. Thus you will see less of those high value wines from down under on local shelves. But what you see will still be remarkable values. NUMBER TWO. Retail sales in the United States were down 10-20% in September. Perhaps more in luxury or non- essential products. Thus wine importers and retailers who buy months in advance are experiencing serious inventory problems. This next two months is their big season. Look for bailout prices across the board. Do not be bashful about asking your supplier for bargains. Do not buy early. There can be a lot of unloading around November 15th. The government is not bailing out The wine industry. L Look for late values in France in Reds especially in The Rhone Valley. A Chateauneuf du Pape that equals $60 California Reds will be found at a little above $20. Wonderful Cotes du Rhone will be under $15. Look for French whites from The Loire Valley or Languedoc. Continue to Check Australian Cabernet and Shiraz as well as Pinot Noir and Sauvignon Blanc from New Zealand (under $15) or Malbec from Argentina for the same price. Domestically, search out Columbia Crest for values in every category. They are the Wine Wonders of the World. Re Champagnes, It is possible that a lot can happen here because Champagne is a late shipper so importers have benefited from the weakness in the Euro that started 6 months ago. Importers pay Europe in dollars and it now takes only $1.35 to get a Euro. It took almost $!.60, six months ago. That is a current cost reduction of 15%. On top of that there is the weak luxury economy worldwide. Inventories will have to be dumped. But look for the right thing. Stay away from anything from Moet and Chandon. They are owned by Louis Vuitton and give nothing away. Avoid Dom, Grand Dame and now Veuve Cliquot. Look for small independents that need to move product. Duval Leroy and Feuilatte offer wonderful Champagne at under $28 equal to Veuve Cliquot, now at $35 plus. Check out Italian Prosecco (Brut only) at under $15. If you want an wonderful upscale gift look for Charles Heidseck. At $60 it is much better than Dom. There are now some great values in domestic sparklers at well under $20 . Look for Louis Roederer and Gloria Ferrer. Finally and Again this year. Cristalino from Spain is still at about $6 a bottle. You can buy an entire case for $70 for a party and look as wealthy as Mozillo. Fuld and the rest of those felons. Cristalino also now has now popular Roses for a bit more . Again Brut only . Salud, Salute, Cheers, Kampai and L' Haim |
In fact, THE DOLLAR is up almost 15% against the
Euro. France, Italy and Spain who are our prime European wine suppliers trade in
Euros. Thus any new shipments that have been made in the last 3 months and
continuing now cost American importers 15% less.