The Australian Society of Viticulture and Oenology (ASVO) has announced the winners of the best ‘Fresh Science’ sessions and the ‘In the Wine Light’ student forum, held during the 16th Australian Wine Industry Technical Conference (AWITC) in Adelaide. “The ASVO is committed to supporting the rich talent in viticulture and wine research,” said ASVO president Mardi Longbottom.
Achieving sustainability is a colossal challenge for the majority of Riverland winegrowing businesses. The region’s reputation for being unflappable and growers’ habits of hard work, patience, persistence, resilience, stamina, staying-power and toughness have been pushed to the limit for almost a decade, ably assisted by the millennial drought. It may be too soon to proclaim success but the indicators are pointing up at long last.
Treasury Wine Estates has more than doubled its annual profit and is gearing up for a big push of its US brands into China. After more than doubling its annual profit, the company behind Penfolds and Wolf Blass is set for a big push of its US labels into Asia. Treasury Wine Estates shares hit a record high on Thursday as chief executive Michael Clarke unveiled a $179.4 million profit – up from $77.6 million, and outline the next step for the company’s expansion in the critical Asian marketplace.
The acquisition of a new wine distribution business and strong growth in export markets has seen ASX-listed Treasury Wine Estates more than double its profits compared with the same time last year. The annual financial report from the owner of a host of wine labels including Penfolds, Wolf Blass and Lindeman’s shows the company continuing its turnaround under the leadership of CEO Michael Clarke.
The importance of the Efic Small Business Export Loan scheme comes sharply into focus when considering the stretched cash flow of many exporters. Zonte’s Footstep, a winery in South Australia, uses Efics export loans. The company may not produce the massive volumes of the major wine makers but still sells more than 50,000 cases per year. “We’re on a sustainable growth rate of 20 per cent per year right now,” says managing director, Anna Fisher. “But we need finance to support the growth, especially since the largest growing part of our business is exporting.”
More than 11,000 people have signed up to a new version of a free online wine course run by the University of Adelaide in Australia. Around 11,300 students signed up to the latest University of Adelaide online wine course, starting 7 July. More than 50,000 people from almost 160 countries have signed up since the programme began – mostly from the US, UK and Australia.
After a brief blip last decade created by a glut of cheap, poor quality Kiwi Sauvignon Blanc flooding the UK market, New Zealand wine appears to have firmly reclaimed its place at the top of the on-trade wine ladder from the prospective of premium price positioning, writes Mark Newton of CGA Strategy. The average price per glass of New Zealand wine at UK restaurants and bars is above its nearest Old World competitors, having edged over the £5 barrier earlier this year.
With more vines comes more waste, raising questions about what is being done with the thousands of tonnes of grape marc being produced every year in Marlborough. Grape marc, the skins and seeds left over after grapes are pressed for winemaking, has a variety of uses, including compost, nutraceutical products and stock feed. It typically makes up around a fifth of the overall harvest tonnage and with more vineyard hectares being planted, the pressure is on the industry to find ways to deal with its waste.
This year, the Hunter Valley in New South Wales had its wettest January on record followed by its driest February ever. So what does this mean for the region’s 2016 wines? Every vintage throws up its own set of challenges. Growing grapes ain’t easy, especially when you factor in the seemingly high number of extreme weather events that come the vigneron’s way, perhaps thanks to the impact of human beings on our fragile planet.
The owner of Accolade Wines has confirmed its intent to offload its majority interest in the wine giant as it moves towards an initial public offering on the Stock Exchange. In May, an Australian newspaper claimed private equity firm Champ PE was mulling launching an IPO for the Australian drinks company, a move confirmed last week then the company formally appointed Reunion Capital Partners as corporate advisors to investigate its options.