Battle to produce Australia’s most expensive wine

Australia might witness a very unusual price war before long — a tussle to be the nation’s most expensive wine. The Barossa Valley’s Henschke family have decided they want their iconic Hill of Grace Shiraz, generally regarded as the second best Australian wine, to sell at a higher price point than Treasury Wine Estate’s Penfolds Grange, and thus become seen as Australia’s best. How Treasury CEO Michael Clarke and his team would respond to this is not clear: a company spokesman declined to comment yesterday, but there’s not much doubt they would respond.