Thursday, August 7, 2008

Cask wine - in Italy?!


Apparently there is a move in Italy to start making, or bottling, high quality wine in boxes. You might be surprised when you think about the land of chianti and barolo, and I can’t see it ever really taking off; you don’t even see screw cap wine in Italy at the moment.

A couple of things to note however: obviously the first being that just because wine comes in a bottle, does not mean it’s high quality. Italy is a big table wine consumer, and has a history of drinking wine exclusively with meals. Could this just be a more convenient packaging...?

Italians are not snobs about wine, and unless you go to more up market restaurants, anyone asking for the wine list is likely to get a bottle dusted off from the cellar. Most of the time you have caraffe wine, which often comes out of barrel – it’s like wine on tap. And you can get it in nifty quarter, half litre or litre glass jugs.

In the supermarkets in Italy (sensible people who haven’t confined alcohol purchases to complicated and expensive licensing laws), you can get huge four litre bottles of wine, which I have always imagined are more for cooking but then I wouldn’t know – I’d never get through one quickly enough anyway.

Some families I know even make a special trip to a producer at the beginning of the year to buy what they call a damigiana – it’s this enormous bottle (the biggest size is 54 litres) which you take home with a special filtering system whereby you can siphon the wine off into bottles. The idea behind it is a year’s worth of table wine drinking.

So who knows? Maybe the humble cask is about to enter its heyday in the old world.

Sunday, August 3, 2008

En primeur 2007: the chase


I think I may have finally decided I’m in the wrong business based solely on the en primeur acquisition we’ve undertaken in the last few months. To explain: we are traders in the fine wine industry and we advise a wine investment fund on its acquisition.

Our consultancy with the wine fund is recent and with the new found cash we have joined the en primeur race and have stocked up on a number of cases, including Lafite Rothschild, Leoville Las Cases, Yquem, and I’m pretty sure we’ve got some others floating around like Haut Brion and Lafleur.

Great for the investment fund, I imagine, despite the 2007 vintage being dubbed a difficult one. So far my boss has been pretty shrewd about his purchases, and these en primeur we only ever buy at convenient prices.

Call me a hopeless romantic, say I don’t what I’m talking about in terms of the wine industry, but I find it disappointing these wines are destined for investment. That is to say we have purchased cases of wine that will never be drunk.

I think en primeur purchases have their place in the industry if you want to secure your wine prior to commercial release, but I wonder who really drinks the above mentioned wines anymore. And does it bother the wine makers that their efforts go into wine that will never be consumed? Doubtful, given the money they're making.

I think there is a need to separate these two sub-industries within the wine sector itself: fine wine for investment and wine that people actually drink. I find it ironic that qualifications for my job included a knowledge of and passion for, wine. So far I’ve barely touched a bottle, and I certainly haven’t had a whiff of these wines, let alone ripped the cork out of one.

For me passion for wine is about challenging your senses, sharing your drinking, advising others on what you found worthwhile, seeking out new things to try, and exploring the efforts of producers who are interested in consumers experiencing their wine to the fullest.

But in our business we’re about growing the value of the portfolio, and our Lafite Rothschild 2007 is rushing off to wine storage in Geneva. So we’re achieving on the basis of our job, but when the fund suggests that investing in what you’re passionate about means you will have greater returns, it’s a marketing gimmick really. People who invest do it to make money, while people who are passionate about wine, drink it.

Image | The Wine Doctor