Continuing oversupply problems in the Australian wine sector are expected to be brushed aside when beer group Foster’s releases the new vintage of its flagship Penfolds Grange next Saturday.
At a time when winemakers are having trouble shifting plonk even at prices as low as AUD2 (USD1.9) a bottle, Penfolds is expected to sell out of Grange within a week despite its AUD550 (USD509) price tag.
Chief winemaker Peter Gago said Grange was a powerful marketing tool for Australian exports as it demonstrated that their wines could compete with more established competitors in terms of quality.
(Source: The Australian)