The sheer number of attendants at this year’s Vinexpo Asia-Pacific, coupled with the millions of dollars spent at Asia’slargest wine auction, poses reasonably positive speculations for the fine wine industry in Asia. However not all wine varietals are selling like hot egg tarts.  

The New York Timesreports that recent sales of American Syrah have been abysmal, leaving many producers struggling with issues of overproduction and diminishing revenue. Outside America the “wine glut” has hit Australia too – it is estimated that there is an oversupply of nearly a quarter of this year’s harvest, due to drought-induced rain.

Despite the dire outlook, the Shiraz producers in Australiaremain optimistic…unlike their American brothers. 

Overproduction means that the Australian wine industry has to focus on rebranding itself in order to escape sinking deeper into the black hole. Although an overproduction may sound enticing to consumers, according to theTelegraph, reasonably priced wines will diminish as the industry focuses on a more profitable and high-end market. 

For those not ready to invest in Bordeaux first growths, the good news is not all wine producers are breaking into fine wine. What’s in store?Wine in cans. Will it work? We’re not sure… 

Let us know your thoughts.