Wine Spectator have just completed their major marketing release of their annual Top 100 wines, and there was one thing I was particularly keen to see. It wasn’t the identity of the number one wine (Kosta Browne Pinot Noir Sonoma Coast 2009), or the top ranked Barolo (Domenico Clerico Barolo Ciabot Mentin Ginestra 2006), but rather how many Australian wines made it on to the list this year. As recently as 2009 there were 10 Australians in the Top 100, and last year there was still six, including two in the top 10. However, something told me that it was going to be ugly this year.
First of all, there’s the exchange rate. While the economies of the USA and Europe struggle to maintain a pulse, the Australian economy has kept on truckin’ (commodities to China), and the A$ has gone through parity with the US$. Can’t be good for Australian exporters. Secondly, there’s fashion. Australian wine, and Shiraz in particular, benefited from this for many years, but that phase is over, and the new black is no longer black Shiraz. In the December 15 edition of Wine Spectator there are a number of articles in relation to Argentinian wine, especially Malbec, which is apparently the new black, or has been in recent times at least. In Nathan Wesley’s article ‘Malbec’s Moment’ he has this to say about Australian Shiraz,
Many winemakers are worried Argentina is overinvested in Malbec, as Australia seems to be in Shiraz. During America’s recession and Malbec’s ascent, Australian Shiraz, the wine-world darling only a few years ago, got caught with a glut of wine priced either too low or too high. As a result, sales declined in the United States from 6.1 million cases in 2006 to 5.2 million cases in 2009
And there was the third point – Schild Estate. Their 2007 Barossa Shiraz had made the list in 2009 at #43, and then done even better in 2010, finishing at #7 with the 2008 vintage ($20). But then came the scandal… [Read More]