Wine lovers to profit from falling prices
Wine lovers to profit from falling prices
Dec 20, 2011 6
(Reuters) - Think of wine critic Robert Parker as the E.F. Hutton of fermented grapes. When he talks, oenophiles listen.
So when Parker, publisher of the Wine Advocate, said recently that the world is entering the 'Age of the Buyer' - a prolonged period of stable or declining wine prices - it was enough to get sommeliers buzzing over their Chateau D'Yquem.
"There's now a tremendous amount of high-quality wines available at reasonable prices," agrees Andrew Bell, president and CEO of American Sommelier, a membership association for wine aficionados. "With supply increasing and consumption decreasing, it stands to reason that prices will fall or stabilize. The pendulum is swinging in favor of the consumer."
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