Can port weather the economic storm?
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Written by Ben Campbell-Johnston
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Friday, 31 October 2008 |
 Last week the Port and Douro Wines Institute held its annual tasting, where a broad spectrum of Port shippers and styles were available. Unsurprisingly, the question of how these drinks will fare in the economic downturn wasn't far from everyone's minds.
Port importers were buoyant about their forecasts, despite the slowdown, but with so many port sales being reliant on the Christmas season it must be a nervewracking time for all.
The small niche houses felt confident their sales would not be dented because they rely on specialist outlets and informed consumers, who can make discriminating choices. They do not target the port-drinking public that buy the cheapest wines. Anecdotally, it is at the cheaper end where consumers are economising on wine in the off-trade right now. But will it be the deep-discount ports that suffer this year?
Port largely performs a repertory role at Christmas and it will remain firmly on the table. But, surely, we will see a large section of the public trading down from Aged Tawny and Single Quinta to LBV and Reserve Ruby. The casualties of the market will be those sold with a half price ticket, where the normally, less discerning public will be reining in their Christmas spend.
This year, we will see a surge in the lower premium sector. My pick was Passadouro LBV, Graham's Crusted and Fonseca Terra Prima.
Ben Campbell-Johnston is a freelance wine consultant.
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