Wine

Global wine demand drops to 27-year low as prices hit record high

The fall in demand last year was particularly big in China, estimated at minus 25%

India, EFTA trade pact will push growth of domestic wine industry: CIABC

Alcoholic beverages makers' body CIABC on Monday said the free trade agreement between India and four European nation bloc EFTA will help push the growth of the domestic wine industry. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway and Switzerland. The Confederation of Indian Alcoholic Beverage Companies (CIABC) Director General Vinod Giri said that time-bound reduction of customs duties on an equitable and sustainable level will support the domestic industry. As per the documents of the agreement, duty concessions on wine are similar to those given to Australia, with no concessions for wines costing less than USD 5. Wines priced between USD 5 and less than USD 15 will see a duty reduction from 150 per cent to 100 per cent in the first year, then decreasing gradually to 50 per cent over 10 years. For wines costing USD 15 or more, he said, the initial duty cut is from 150 per cent to 75 per cent, eventually reducing to 25 per cent after 10 ...

Sula Vineyards records double-digit sales growth in June quarter

Sula Vineyards Ltd, the country's largest wine producer, has recorded a strong double-digit sales growth in the June quarter. Its estimated net revenues year-on-year were up 17 per cent in the April-June period, said a sales update by Sula Vineyards. Sales from its own brands were at Rs 103.5 crore, up 24 per cent, while its portfolio of imported "elite and premium brands" had a 30 per cent growth. "The company has recorded its highest ever Q1 net revenues overall as well as for own brands and the wine tourism business," it said. Its revenue estimates from wine tourism were at Rs 11.4 crore, up 11 per cent. This sales updates will be followed by financial statements for Q1 FY24 once approved by its board, said Sula Vineyards. Commenting on this, Sula CEO Rajeev Samant said: "Our focus on premiumisation continues to pay off with our elite and premium wines leading the pack in terms of growth." Sula Vineyards' wine tourism revenues also grew in double digits. Over the outlook, he

How cost of living crisis arrived at a tough time for brewing industry

Prices of beer, wine and spirits have risen by 13.1, 7.2 and 8%, respectively

Sula Vineyards' own brand sales volumes cross 1 mn cases mark in FY23

Leading wine producer Sula Vineyards Ltd on Tuesday said sales volume from its own brands crossed 1 million cases in FY23. Besides, sales volumes in elite & premium wines went past the 5 lakh cases mark for the first time, it said in a sales update for Q4 & FY23 submitted to the bourses. "The company has recorded its highest ever annual revenues both for its own brands as well as the wine tourism business," the company said. On a provisional basis, Sula Vineyards said its net revenue for the March quarter was at Rs 104.3 crore from its own brands and Rs 12.4 crore from wine tourism, which represents room revenue, sale of food & beverages, merchandise, and all other ancillary services. For the financial year 2022-23, net revenue from own brands was at Rs 482.5 crore and Rs 45 crore from wine tourism. "FY23 has been one of the most momentous and successful years in Sula's 23-year journey. Our focus on premiumisation is reaping rich dividends - more than 52 per cent of 1 ...

Australia FTA: Wine industry gears up for foreign market's entry in India

The duty cut regime on Australian wine under the recent trade agreement strikes a balance between protecting the domestic industry and opening the path for greater investments and tie-ups

Wine maker Sula's IPO to open Dec 12, size Rs 900-1,000 crore, say sources

Entire issue will be OFS of nearly 27 million shares belonging to promoters and PE investors

Sula Vineyards eyes double-digit revenue growth in next five years

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

Wine shop employee killed, 3 injured in grenade attack in J&K's Baramulla

A burqa-clad terrorist walked up to a newly-opened wine shop in Jammu and Kashmir's Baramulla district, dropped a grenade inside through the porthole window

India likely to offer lower import tariffs on premium Australian wine

This will be part of an early harvest agreement; officials hope to finalise the interim trade pact by end of this month

Maharashtra: Now, wine permitted to be sold in all supermarkets

The Maha Vikas Aghadi (MVA) government in Maharashtra on Thursday permitted all supermarkets to sell wine manufactured in the state as part of the new wine policy, officials said.

As drinking rises in Covid, non-alcoholic wine could be a health solution

Dealcoholised wines are produced through a gradual, or even total, elimination of alcohol content via evaporation, reverse osmosis or preventing fermentation

China slaps up to 200% tariffs on Australian wine as relations nosedive

The anti-dumping deposits will take effect November 28 and range from 107.1 per cent to 212.1 per cent

China launches anti-dumping probe into wine imports from Australia

The anti-dumping probe will look at imports of wine from Australia in containers holding two litres or less in 2019, the ministry said in a statement

Master of wine Sonal Holland explains why we need a cultural shift

In 2009, Holland started her eponymous wine academy, hoping to educate youngsters about the spirits business

Wines as expensive as luxury cars at Christie's sale of fine, rare spirits

The selection spans over 240 years, from a bottle of Madeira 1775 to Bordeaux 2015, says Edwin Vos, the international head of fine wines at the British auction house.

Virus impact on wine

Diageo, the largest alcoholic beverage company in the world, estimates that the loss in its fiscal year ending June 2020 would be between $300 million and $420 million

Undercover wine tasters

It's a pity that good imported wines are so expensive in India

Why I love wine

With spirits, one gets drunk; with beer you mostly burp

Kingsland, Soul Tree to form JV, UK set for bulk wine imports from India

We believe there is a clear market opportunity for Indian wine, especially in the Indian restaurant sector, said Ed Baker, managing director at Kingsland Drinks