Dumping Sauvignon BlancNews today that one of the largest wine companies in the USA is about to launch a $3 Chardonnay. Bad news for the reputation of Australian wine internationally surely. And at $3 its half the price of Yellow Tail, the USA's #1 imported wine brand. With 20 million surplus litres in the tanks following the 2008 vintage it seems that wine companies were only too willing to part cheaply in order to free up tank space for the 09 vintage. Read more about it in The Australian newspaper.
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On a smaller but equally concerning scale is NZ Sauvignon Blanc. Millions of litres of the 2008 vintage have already been sold/dumped to overseas markets at budget prices for similiar reasons to the Australians. A look at current bulk wine offerings reveals there are still more 2008 litres available BUT alarmingly there is in excess of 3 million litres of 2009 Sauvignon Blanc for sale already at under $4/litre. I hope WineNZ are already working towards an industry-wide solution.
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