Recent changes reflect declining dollar vs Euro
Well it was bound to happen sooner or later. The US Dollar's decline vs the Euro has begun impacting the price of wine from Italy, Spain, France and Portugal. I was actually pleasantly surprised to see prices hold steady through most of 2007 thanks to the efforts of producers, importers and distributors to share the burden of the eroding buying power of the dollar. While I don't expect large increases (I have been seeing 10-15% on my most recent invoices), unless the there is a turnaround in the strength of the dollar this is a trend that will continue for the next few years.
Not to worry though. There are still lots of great value wines available from these locales and from other regions that still believe that what is in the bottle is more important than their marketing campaign! And you can bet that I will continue my efforts to bring the best value wines that I can find into Wine Xing for your enjoyment.
Cheers,
Eric
Not to worry though. There are still lots of great value wines available from these locales and from other regions that still believe that what is in the bottle is more important than their marketing campaign! And you can bet that I will continue my efforts to bring the best value wines that I can find into Wine Xing for your enjoyment.
Cheers,
Eric
So, this means that Europeans our enjoying US wines at a lesser price?
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That's the flipside to a weak dollar, our exports are (relatively) cheap. In time this will lead to greater exports and a balancing of the trade deficit which will in turn raise the value of the dollar relative to the Euro (and Yen). But it is my impression that most Europeans are somewhat provincial in their choice of wine and probably don't drink that much vino from the US...
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