Several Bright Spots Noted at Recent Wine Industry Events

The other gatherings of wine people in Northern California recently all had doom and gloom behind them. They were:

--A daylong financial symposium staged by the San Francisco investment banking house Hambrecht & Quist addressed, among other issues, the profitability of wineries based on volume and case prices. In one report, financial analysts said California wine prices had risen too high, and the experts predicted that prices may soon have to be cut or discounts offered because consumers are weary of paying high prices.

--At the initial meeting of the newly formed Society of Blancs, focusing on the travails of white Sauvignon, participants heard various industry leaders offer schemes to sell more Sauvignon Blanc. One suggestion: junk the name Fume Blanc (which means the same thing as Sauvignon Blanc) because it is confusing to the public, who thinks the wines are different.

--An impressive array of Italian wine producers unveiled the glories of Italian wines in a promotion that may have been aimed, in part, at justifying escalating prices. In the April issue of Decanter, a British wine magazine, Master of Wine Nicolas Belfrage wrote, “The main problem for the future of Italian wines on international markets is the price-quality ratio.” He noted that recent price increases for Italian wine “are not realistic and may prove suicidal. Just as the Italians are getting a reputation for really good value, short-term greed steps in.”

--Physicians and lawyers looked at the issues surrounding warning labels and the proposed increased taxation of wine at a meeting of the energetic American Wine Alliance for Research and Education. In one presentation, a heart specialist, Dr. Arthur Klatsky, gave a presentation showing scientific studies that showed that moderate wine consumption (two glasses a day) can help reduce the risk of heart attack.

--The annual national convention of the Wine and Spirits Wholesalers Assn. looked at how to sell more alcoholic beverages in the face of escalating neo-Prohibitionism. The trade event attracted hundreds of alcoholic beverage wholesalers and retailers from around the country.