Wine Wisdom

Another Review of Current Market Conditions

 

You have heard it from these pages many times over the last few months but good advice always bears repetition such as “Get the ball into Shaq” and “ Look for excellent wine values for the balance of the year.

During this time you have two choices. If you buy wine by the price, you should be able to upgrade your holdings since wines that were previously out of your range will now be coming down to your price points. If you buy specific brands, those wines will be available at lower prices.

Pressure has been building on the vintner, distributor and retailer for about a year. The recession had a dramatic effect upon wine sales in all categories. Overproduction exists in California especially in Chardonnay. Foreign competition particularly from Australia, but also from Chile at the low end is creating further price pressure. Wonderful values continue to flow into this area from the Southern Rhone district of France.

The increased activity in value priced wine dinners and separate wine tasting around town make a clear statement about the market conditions. Wineries are dead set against reducing their prices. They will try many things before they take a price hit. Thus wine dinners that featured wines in the $15 to $25 price category are including wines that are selling in the $25-$40 range. This makes the wine dinners excellent values but also graphically gives you an indication of what is going on in the market. The attempts at promotion will be of minimum benefit to the wine industry.

Again, if you are a macho red wine aficionado, this is your chance. Wines of the Southern Rhone have always been known for their full body and flavor. The premium wine from this area is Chateauneuf du Pape. The ’98 and ’99 vintages have both been very good and great names that formerly were in the $40 price range can be found for $20-$30 Look for Les Cailloux, L’ Oratoire and Vieux Telegraph. Cotes du Rhone from prestigious names like Guigal, Bernard and Perrin can be found for under $10. 

If Whites in the form of Chardonnay are your choice, all kinds of values are available at the price points. Columbia Crest continues to lead the value race around $10. Chateau St. Jean and Souverain are in the $14 area. Sonoma Cutrer can be found at under $18, Prestigious Chalone and Landmark are being offered at $22.

Australia continues to be a formidable competitor with excellent, Cabernet, Sauvignon Blanc, Pinot Noir and especially Shiraz. Look for Rosemount, Penfolds and Wolf Blass among others. Great values can be found in very drinkable wines from $7 to $30 right now.

While not in great supply in this market, New Zealand is a great source for fruity but dry Sauvignon Blanc priced from $9 up to $30. If you are not sure of yourself, it is worth a visit to your local wine store. Chances are that you will find an experienced and competent person that will give you very good advice and take you in the direction that you want to go. His prices may be slightly above the big boxes but the information he will provide will be worth the difference.

You can take advantage of the current market even if you don’t have a refrigerated wine cellar. Wines like the dark and cool locations. Thus you can store wines for up to 5 years ion the floor of a closet that is not contiguous to an outside wall. The temperature is lower on the floor, Never display wine in high spots, on shelves in the open in rooms. If possible try to store the wine horizontally so that the cork remains wet and doesn’t dry out.