Tuesday, July 10, 2007

English wine crop is all washed up

Following up on yesterday's exploration of wine futures as a global warming asset class we have this report from The Observer:

...Yields will be down by around 20 per cent, with some producers even losing a considerably higher proportion of their crops,' said Bob Lindo, chair of the UK Vineyards Association and owner of the award-winning Camel Valley vineyard near Bodmin, Cornwall. 'The weather has been so appalling that it is only the very skilful growers who will be OK this year. But many English producers are very inexperienced at this game, so they won't know all the tricks,' said Lindo, whose 2004 Cornwall Brut recently beat 250 champagnes to win gold in an international competition.

...Until the weather took a turn for the worse a few weeks ago, wine producers in England were feeling optimistic about the future. After years as the butt of cruel jokes, the industry seemed on the verge of a breakthrough.