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China’s bordeaux lovers heat up France’s wine industry- 11June24

Fine wines outstripped gold, crude and the FTSE 100 as an investment last year as prices surged for top vintages

At Château Latour in Pauillac, horses plough the vineyards just as they did in the 14th century, when vines were first grown on the estate. But this is a recent return to tradition at Latour, one of the five renowned “Premier Grand Crus” of Bordeaux, and it’s based on sound commercial considerations rather than sentimentality.
Prices of fine wines have surged on the back of an explosion of interest from China and other Asian countries in recent years. Unable to increase production – land is limited and there can be only one harvest a year – Bordeaux’s leading producers focus relentlessly on quality.
The wines are picked and sorted by hand and the owners are investingheavily in wine-making techniques. The reintroduction of horses at Latour 18 months ago is part of that drive for quality – they plough with more precision than tractors and do far less damage to the soil and vines, some of which are 100 years old.
Fuelled by the seemingly insatiable Asian demand, the wine market is booming despite the continued difficulties of the global economy.
Prices plummeted in the wake of the Lehman Brothers collapse in 2008 but the setback was short-lived. In 2010, top-end bordeaux outperformed not just equities, but gold and crude oil too, according to Liv-ex, which tracks the prices of the top five Bordeaux châteaux.
Its Fine Wine 50 index rose by 57% last year, far outstripping gold (+35%), crude oil (+20%) and the FTSE 100 (+11%). This year so far, the Fine Wine 50 index is up just over 9%.
China last year overtook the UK and Germany to become the leading export market by value for bordeaux wines. And the Chinese are not just buying bordeaux by the bottle and case but by the vineyard too – earlier this year, Cofco, the huge Chinese state-owned conglomerate and owner of the Great Wall wine brand, bought a 20-hectare estate, Château de Viaud, in Lalande de Pomerol. It is unlikely to be the last such deal.
China’s growing influence on the global wine market was underlined last week when the wine bible Decanter published its Power List of the 50 most influential figures in wine world.
Leading the pack was Pierre Pringuet, chief executive of Pernod Ricard, owner of Mumm champagne, Perrier-Jouët and Jacob’s Creek, but shooting up from 20th to 2nd place – and displacing the legendary wine critic Robert Parker in the process – was Eric de Rothschild of Domaines Barons de Rothschild, which has owned Château Lafite since 1868.
Rothschild won his elevation on the back of China’s passion for Château Lafite, and the knock-on effect which that is having on the industry, said Decanter editor Guy Woodward. “As the world’s premium producers blaze a trail east, it is in Lafite’s footsteps they tread,” he noted.
With limited supplies of Lafite and surging prices, other Premier Crus are increasingly in demand. Last month, a single bottle of 1961 Château Latour sold to a Chinese buyer for £135,000 at Christie’s in Hong Kong, more than three times the expected price.
The decision by Château Latour, which is owned by the French businessman François Pinault, to release part of the Chateau’s treasured cellar was seen in the industry as an attempt to ramp up Asian interest in Latour as a rival to Lafite. The auction raised $7m (£4.3m) in total, with 95% of the lots exceeding their estimates.
Meanwhile the 2010 vintage, which is just being released en primeur(while a vintage is still in barrels, before it is bottled), looks like being another top quality year. The 2009 bordeaux was hailed as the “vintage of the century” and there is every sign that 2010 is just as good. Producers are currently in the process of announcing their prices and there have already been some steep increases – last week (8 June) the price of Château Pontet-Canet was set at €100 (£88) a bottle – up almost 40% on its record 2009 price. The huge increase did little to dampen demand, however – London-based fine wine merchant Bordeaux Index sold out its supply within half an hour, and other merchants reported enthusiastic interest despite the hefty increase.
Robert Parker, the world’s most influential wine critic, has warned of a speculative bubble in bordeaux prices and that the region, which he has done much to promote, is in danger of pricing itself out of the European market as it chases wealthy Asian buyers. Raising prices while the world economy is in such a fragile state is “a very dangerous game”, he said.
Not everyone agrees: “There is no bordeaux bubble,” says Sam Gleave of Bordeaux Index. “There was a slight slowdown several months ago but that was what the market needed. People are drinking as much as ever and are realising that it’s worth looking at second growths from the better vintages.
“Second growth quality now is as good as first growths were 15 or 20 years ago. As people’s palates become more educated, we expect to see buyers branching out into other areas, such as burgundy and rhône.”
Only a tiny proportion of global wine production – less than 1% – is considered investment grade and thus the surging prices at the top end will have little impact on the everyday wines sold by supermarkets and off-licences, says Gleave. “The only thing that really affects prices at the mass-produced end of the market is exchange rates.”
Source: http://www.guardian.co.uk/business/2011/jun/13/bordeaux-investment-outstrips-gold
TRAILER 8

Tourists and residents of Manila travel out of town to the north on a short getaway look for the best place in Clark for rest and relaxation.

Companies, even organizers, wedding planners and families are looking for Resorts and beaches near Manila for events and retreats. Frequently visited destinations for vacation spots this summer in Philippines are found in Angeles City, Clark, Pampanga, which is very accessible from Manila, Subic and Cebu.

Frequent travelers and visitors staying in Angeles City Pampanga Clark Philippines look for restaurants, coffee shops, bars, pubs, hotels and resorts in Clark that offer free internet connection to guests. There are some highly recommended places in Clark that offer good WIFI internet services.

Yats Restaurant and Wine Bar has its own special attraction for January 2010. Featured on the “special” menu are luxurious items that are guaranteed to make the dinners memorable. Saturdays in January are BYOB dinners which means that wine lovers can bring their own bottles to dine at Yats Restaurant without being charged corkage. BYO (Bring Your Own) is a special theme of Yats Restaurant which offers the biggest selection of fine and everyday wines anywhere in Asia.

http://www.YatsRestaurant.com

This web site contains articles and information that will be helpful to visitors, residents and tourists traveling out of town from Manila on a short getaway to Subic, Angeles City, Pampanga and Clark Philippines. There are several web sites that contain information that might also be pertinent to what is happening in North Luzon, Subic, Tarlac, Pampanga, Clark Freeport Philippines.

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

Yats International Leisure Philippines

For assistance with lodgings, accommodations, hotels and resorts near Manila in Subic, Pampanga, Angels City and Clark Philippines log on to http://www.HotelClarkPhilippines.com

While in Clark, one might as well add to the itinerary a visit to the famous Clark Wine Center, the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.

http://www.ClarkWineCenter.com


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Friday, June 24, 2011 Liquor and Wine Shops in Clark

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