Grange defies wine industry hangover
Grange defies wine industry hangover
Apr 25, 2010 6
AU - CONTINUING oversupply problems in the Australian wine sector are expected to be brushed aside when 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 $2 a bottle, Penfolds is expected to sell out of Grange within a week despite its $550 price tag.Chief winemaker Peter Gago said he expected to see the usual queue of wine lovers -- many of them young parents buying a 21st birthday present in advance for children born in 2005 -- at the cellar door in Adelaide's Magill on Saturday.
"Almost all of it is sold in the first week," he said of the company's annual Grange output, which typically amounts to between 7000 and 9000 cases of 12 bottles each.
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