SPIT: corks in Champagne!
Champagne house Duval-Leroy has announced that they will be replacing the cork with a “revolutionary” metal cap. Full details will be announced next month. The BBC reports that it will “still produce the familiar “pop” and spray beloved of generations of racing drivers on the winner’s podium.” But how will this affect the Japanese corkslinger?
SIPPED: wine as a tax revenue source
New York State will raise the excise tax on wine sold or made in New York from $0.18 a gallon to $0.30 a gallon, effective May 1. This rate increase of roughly two cents a bottle may be too little to pass on to consumers thus may fall to producers or wholesalers. In order to avoid channel stuffing, there will be a “floor tax” levy imposed on warehouse inventory as of May 1. So will there be mega sales in NY wine stores between now and then to draw down said inventory? [NYT]
Fraudsters posing as buyers for British wine retailers have bilked French producers out of an apparently large amount of wine. Sad. [Decanter]
SIPPED, surprisingly: Bordeaux 2008
If in 2008 grapes were, in the words of Jancis Robinson, “swollen with summer rain,” vineyards are “ravaged by mildew and threatened by rot,” would that make for a good vintage in Bordeaux? Despite all odds, Robinson in the FT and Elin McCoy on Bloomberg attest to finding some surprisingly good wines. McCoy asks the money question: “But dropping prices dramatically in a good vintage? It’s not in the Bordelais DNA.” But some have gotten the message as she quotes Chateau Ducru-Beaucaillou, owner Bruno Borie: “We have to go back to basics, go back to the consumer, instead of the speculators.” Subsequently, Decanter reports several releases down 20 – 40% from last year’s prices. What will happen ultimately to the weak and expensive 2007 vintage? A caution against buying wine as futures…