Headline of the day! 🤣🤣
RP ratings still move the market in Asia.
In the latest chapter of President Trump’s war on Free Trade, Small Businesses at home and abroad are the most likely victims of the ongoing trade spat between Boeing and Airbus.
Wine is an easy political target for populist rants despite the widespread democratization of wine consumption in America. Recent data indicates that wine’s share of consumption continues to rise to nearly 3 Gallons per capita per year.
Realistically though, European wineries have already pivoted to the faster growing markets in Asia. China’s imports 8.3% of France’s total wine exports, combined with the rest of Europe’s 41.2% share, totalling 49.5%.
Comparatively, the US’s total of 17% of French wine exports seems middling at best.
Some industry professionals estimate that the tariffs will destroy $10Bn from the US economy and potentially risk over 75,000 jobs from truck drivers to warehouse workers and salespeople.
Australia’s sixth largest winemaker voluntarily enters adminstration.
Adding further drama to vintage full of challenges in addition to the record heatwave and destruction from incredible wildfires.
Leading off the Reds for the night, a 1985 Ch. Beau-Séjour Bécot was lovely, light and balanced tension.
1971 Ch. Figeac was not-surprisingly dense and brooding with the fleshy nose it’s known for. Hints of exotic scents, freshly cut grass, mushrooms and dried blood.
1986 Ch Cheval Blanc was tight and linear, great notes of cranberry from the Cabernet Franc. Tannins are a bit rugged at first glance but settled out quickly as it opened.
1988 Château Pavie really impressed from the gate, surprising to find mint on the finish of the nose and palate. There’s a tight seam of acidity and red fruit lingering which holds the front palate together. Dark fruit notes of Black currant and plum, leather and tobacco with a touch of mint.
Over 20 wineries, 700+ homes, are sustainaning damage from 70+ Wildfires in Queensland, Victoria, New South Wales and South Australia
Australia is reeling from a new record 3 day high temperature streak.
Parts of The Hunter Valley, Yarra Valley, Mt. Lofty Ranges, Adelaide Hills, Kangaroo Island are grappling with encroaching wildfires.
Hunter Valley Wineries are already dealing with smoke damage. Meanwhile Mt. Lofty, Petaluma and Golding are said to have sustained damage.
In the Barossa Valley we’re hearing of extreme water stress and sunburn to the vines.
Mildura and Swan Valley saw highs of 47°C Friday, rare for this early in the year.
Slowing imports and sales in Asia have taken another casualty.
Craig Aldous announced that he has left Summergate, their third CEO in the past five years.
This follows major shakeups at Cofco and ASC.
Over 2000 importers have been reported to have gone out of business in the first half of 2019 according to China Chamber of Commerce of Export and Imports.
Have we hit the bottom yet is the real question?