Sinking Euro And Rising Dollar Make Waves In The Wine Industry, Wine Spectator Reports

If you’ve ever been tempted to hop on a plane and take an impromptu trip to Europe, now is the time. With the dollar at a 12-year high, currently at $1.07 against the euro, Americans have the opportunity to book a 5-star Italian hotel or overindulge at a French bistro without the financial regret that would have accompanied such splurges just a few months ago.

Changing exchange rates are also impacting the wine industry, albeit slowly. European wines should be cheaper when paying with dollars, but wineries and merchants are just beginning to pass those savings along to the consumer. And the strong dollar is spurring European vintners to give the U.S. market more attention. As for American wineries, the impact is muted for premium wines, but it’s changing the selection of value wines we see on grocery store shelves.

But American wine consumers shouldn’t expect big savings on European wines just yet. Wineries, importers, distributors and retailers all have to agree on a lower price point before consumers see savings. Wine Spectator has more. 

Tagged : wine, Wine Spectator

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