If there’s one wine headline guaranteed to have me reaching for the eye-roll emoji (to be honest, there are several, though never in this fine publication, obvs), it’s the ‘Fine wine index soars as investors toast bullish market’ type of thing.
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Faced with a significant duty rise from 1 August, many in the business of selling wine are bracing themselves for a new round of pain. Unwilling to pass on price rises to cash-strapped customers, but needing to protect already thin margins, this unpopular hike in tax is understandably the talk of the trade. And all of this is to happen at a time when implementation will impact on hospitality outlets, forcing a reorganisation of wine lists during the crucial summer trading period.
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New moves to limit Etna DOC (PDO) wine production volumes have been designed to maintain and control average grape prices, as a way of preserving the Sicilian mountain’s wine economy, its environment and viticultural heritage, the Etna DOC wine board has said.
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Way back when I studied economics at university, I also studied sociology. It struck me then that the way economics is taught is deeply flawed. To call it a science, even a social science, doesn’t make any sense. Unlike scientific study of the cosmos or gravity discovering immutable laws, economics seeks to explain how and why humans do certain things.
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With prices rising for wines from top Italian DOCs and other producers – thanks to high demand and prices coupled with the collapse in sterling – these are tough times for the UK wine trade, with the pressure on margins tougher than ever.
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Data from CGA has revealed a third month of double-digit inflation for foodservice prices in April, with further rises expected and inflation unlikely to fall below 7% until at least next year.
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Prices for top Santorini wines have dramatically risen to the same heights as Chablis says Mary Pateras, director of Eclectic Wines, a specialist wholesaler established 20 years ago, and which now imports about half of the Greek wines sold in Britain.
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As the cost of living crisis and soaring energy bills continue to affect households across the UK, many in the hospitality sector are predicting double-digit price rises, inevitably to be passed on to consumers.
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Fine wine prices on Liv-ex 100, the fine wine trading platform’s top index, have enjoyed their most prolonged period of growth since records began – a phenomenon which has signalled “high investor confidence and a healthy market”.
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Supply chain issues and increasing costs have impacted small and medium enterprises (SMEs) across the country with four out of five (79%) revealing they have faced increased prices from suppliers over the past six months.
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Costs resulting from ongoing supply chain issues are likely to be passed onto the customer this autumn, CGA has predicted, with three-quarters of hospitality businesses admitting that they are likely to raise prices as a result.
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Louis Roederer International Wine Columnist of the Year 2018
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Wholesale food prices heading to the hospitality sector reached their highest ever level in May 2021, while soft drinks saw the complete opposite trend.
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Fine wine investment enjoyed a growing reputation for resilience during the ups and downs of Covid. Chloe Ashton, COO at Wine Lister, takes a closer look at the evolution of this ever-changing market.
After a tumultuous 12 months, Nicolas Clerc, brand manager at Armit Wines reflects on buying and the impact of Brexit on running a ‘virtual’ Burgundy EP campaign
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“The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence.” Charles Bukowski
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The success of the government’s Eat Out to Help Out scheme in August helped push the UK inflation rate to a five-year low, according to data from the ONS.
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A fast, four-week campaign with average price cuts of 21% confounded many expectations by delivering a successful En Primeur 2019 release.
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As Bordeaux’s top estates continue to trickle their 2019 releases onto the market, prices are typically 15-30% down on 2018, with around two thirds of prices now declared.
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Global auction house Sotheby’s has launched an own-label range of wines.
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