In a much-publicized report released Wednesday, US bank Morgan Stanley said that a worldwide fall in production and growing thirst for wine among Chinese and Americans would send prices rocketing. However industry experts say worldwide production actually rose this year.
Catholic News Agency reports that the serious food shortage in Venezuela could lead to a lack of wine and hosts for the celebration of Mass. Reporter Macky Arenas Arenas explained that the shortage in the country is due to “the lack of raw materials.”
Global wine production will slump to the lowest in 37 years after weather damage to grapes from France to Argentina, forcing a draw down of stocks, the International Organization of Vine and Wine, OIV, said.
The latest issue of U.K.-based Decanter magazine focused on the growing wine culture in Chile, a country it deemed a “grape growing and wine producing paradise” due its geographical diversity.
Eduardo Guilisasti, CEO of Chile’s Concha y Toro winery, placed ninth on Decanter magazine’s recently released “2011 Power List.” The bi-annual ranking lists the 50 most influential people in the winemaking world based on their level of influence over consumer choice in wine. This year’s list elevated Guilisasti from his 2009 ranking as 13th.
Spain has lost its 12-year battle with Argentina over the use of the name La Rioja. The northwestern Argentine province of La Rioja was founded by a Spaniard in 1591; the Spanish were also responsible for introducing vines to the region, reports Decanter.com.
More than forty Argentine wineries will be participating this week at the Pro Wein 2011 wines and spirits trade exhibition in Dusseldorf, Germany, considered one of the most important of Europe and which attracts some of the best professionals.
Three times Argentine president Juan Domingo Peron has his own brand of wine, “El Justicialista” following on the name of the populist movement the General founded in the late forties last century and has dominated Argentina politics ever since.
Chile’s white wine grapes slated for harvest at the end of the month may not find enough hands to pick them. The grape harvest is the most labour-intensive period of the year for vineyards, but this year, vineyards having trouble tracking down temporary workers to work the harvest season.
Last year was a great year for Chilean wine exports. Despite the drop in wine exports that followed the 2008 financial crisis, in 2010 the wine industry reported sales of 1.5 billion US dollars, a 12.4% increase over 2009.