The French champagne industry has been badly affected by the Global Financial Crisis - so much so that there's now a Glut of French Champagne. Sales have fallen by nearly 20% in just six months. With luck, that'll translate to lower retail prices here in Australia, although the big Champagne houses are very canny long-term thinkers and they won't lightly cut their prices for fear of damaging their brands.
At the same time, in the, let's say tightly, others would say absurdly, regulated world of French wine, the amount of kilos of grapes per hectare that can be legally harvested has been cut by 40%. This is an attempt to reduce the considerable stocks of Champagne that are hurting the balance sheets of producers and maintain quality.
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