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Grange defies Australian wine-industry hangover

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)