What the wine lover should do in 2012
I think that I would not have made a very good prophet, but I think I can be sure about one or two things that 2012 will have in store for us with regard to wine. The first is that prices are sure to rise and the forecasts are that wine will be at least 15p a bottle more expensive after the next budget. With the Government also seeking to link minimum pricing to the alcoholic strength of drinks, this, too, is likely to have some effect, though potentially more on cheaper wines than on the more expensive.
In the wider world, it seems that, after much suffering, the New Zealand market is back in balance with about as much being produced as the world can readily absorb. This means that prices are likely to rise. In Italy the 2011 harvest was up to 30% below normal and, once again, this will mean price rises, particularly at the bottom end of the market. On the other hand the fall in the value of the euro should lead to an easing of prices for many wines. On the other hand, a rising dollar will mean higher prices for wines from not just the United States, but also from Chile and Argentina.
With regard to Champagne, the price of grapes for the last vintage rose, whilst the supermarkets seemed to be offering many major brands at basement prices. This suggest that the market is not in a healthy state and that some of the big houses might be having cash-flow problems.
What do I suggest, then, that the wine lover should do in 2012? – stock up and , as they say, enjoy!
Christopher Fielden
