by Ken Gargett

More than 3,000 investors in the failed managed investment scheme (MIS) operated by Western Australia’ Palandri Wine Group (PWL), look likely to lose in excess of A$160m ($137.6m/€94m).

from Jessica Mead at Reuters

French vintners are turning to outer space to outwit foreign rivals, with new satellite technology giving an overview of vineyards' physical characteristics and potential. The satellite images, produced by French wine consultancy body ICV and geo-information provider Infoterra, give growers information on water stress and grape composition amongst others, allowing better management of the vinification.

by Joel B. Payne

Johann Seitinger, chief agricultural of the Austrian province of Styria, and Siegfried Nagl, the mayor Graz, opened the World Sauvignon Congress last night in the city’s old fortifications on the hilltop above the river Mar. This well-preserved Austrian burg of 300,000, which was named a World Cultural Heritage Site by the United Nations in 1999, hosts the first Sauvignon symposium beginning this morning. 250 participants from all over the world have registered to attend.

by Ken Gargett

Australian winery Torbreck Vintners has been sold to a partnership consisting of the original founder, David Powell, and the proprietor of the Californian winery, Quivira Vineyards, Peter Kight.

by Robert Fenner at Bloomberg

Foster’s Group Limited, Australia's biggest beer and winemaker, posted its first loss in 16 years after writing down the value of its global wine business by A$602.9m ($517m/€352m)).

by Ken Gargett

Australia’s severe drought continues to impact the wine industry, with an estimated 5,000 grape growers struggling to stay in business.  A regional industry body, the Riverland Winegrape Growers Association, has found that nearly 60% of Riverland growers were considering leaving  the industry, “due to adverse conditions, including drought”.

from stuff.co.nz

The latest in a series of five-yearly surveys by researchers at Lincoln University shows that while consumer costs have shot up for products like meat and dairy, the price of wine has dropped significantly. In 1998, consumers were paying on average NZ$17 ($12/€8.10) for what they considered an everyday wine. A decade later that average cost is down to $14.60, the survey found.

by Sophie Kevany

International sales of the exceptional Bordeaux 2005 vintage have saved French wine export figures for the first half of 2008. Figures released this week, for the period January to June 2008, show a fall in French wine export volumes of 8.72%, but an almost equivalent rise in value of 8.16%, compared to the same period in 2007.

by Sophie Kevany

France and Hong Kong have formally agreed to develop wine sector trade and tourism together, under the terms of an agreement signed this week in Hong Kong. The agreement, signed by French Agricultural minister, Michel Barnier, and Hong Kong Trade Minister, Rita Lau, fits with the French need to develop wine export markets, and Hong Kong’s desire to become the primary wine trading hub for the Asian market.