We have been snowed in down herein the Minervois for 3 days. Thank God we have still had electricity and water. The vines are in their dormant phase at the moment, so the snow is no problem.
It is certainly interesting times in the wine world. Some distributors in the UK and USA are finding business tough and exchange rates crippling. It does not help in the UK with an insecure and unsure government, who seem to be indecisive. Maybe the general election in May will at least clear the air.
What is definitely sure is that wine taxes will rise in the forthcoming budget on March 24th. So it really is an opportunity to stock up on wine if you have parties, functions planned for the coming weeks/months.
The World of wine is also changing with new areas developing and some areas being effected by natural disaster...Chile's recent earthquake and the ongoing water shortage in Australia.
Sometimes investment and wine consumption turns to recognized 'brands' and known names when times are tough. That is why our Bordeaux sales have been so strong in the last year. We have introduced many people to the delights of Chateau de la Riviere in Fronsac as well as Chateau La Gaffeliere in Saint Emilion and a host of other excellent Chateaux. It is bizarre that these wines are more expensive than the average UK bottle price, but maybe people turn to safe areas rather than trying to explore in a recession.
That is why this article is interesting. Warren Buffet is a very shrewd investor. He normally looks at long term investments. So he has analysed wine and seen an opportunity. Lets hope we have more optimistic news in the wine world over the next few months. 2010 is proving challenging, but there are areas to grow and develop.