TWELVE ITALIAN RED WINES DEFY ECONOMIC CRISIS

Some wine lovers and experts consider the 1997 vintage as "the last myth of the 1900s". Twelve of the best labels from the 1997 vintage were signaled out for distinction last week at the 42nd Vinitaly, the Italian Wine and Spirits Trade Fair in Verona. Top wine buyers and importers, wine investment fund managers, collectors, Italian Guides (Gambero Rosso, Ais, Espresso, Maroni and Veronelli ), as well as influential wine magazine editors and critics (Wine Spectator, Decanter, Falstaff, Parker) paid homage at a horizontal tasting of the prestigious vintage. According to wine experts at Vinitaly, the twelve bottles are by now only available on the collector's market—with an overall value estimated at more than 53,000 euros. "The twelve wines presented during this tasting-event have seen their value grow over time, in terms of quality and sensorial features and pure commercial value," the Director General of VeronaFiere, Giovanni Mantovani, said.

Italy sees great potential in Chinese wine industry

"The Shanghai World Expo 2010 and the Olympics" – explained Giovanni Mantovani – "will be a true test as well as an opportunity for the image of Italian wine. There is great potential for Macao, considered the Las Vegas of China with its 30 casinos and 30,000 hotel rooms, which, until now, has been dominated by French and Portuguese offers. But the 6 euro price range, which is the price range that is expected to grow in consumption with three digit numbers, is precisely the range that Italian wines fit into.

For now, Italian imports represent only 5% of total imports to China, and France claims 45%. Italy is preceded only by Australia and has registered growth of 177%.

Italian wine safe to drink

The European Union said on Monday Italian wine was safe to drink after a news magazine exposed a scam involving wine allegedly tainted with toxic substances including acid.

Nina Papadoulaki, spokeswoman for European Union Health Commissioner Andreu Vassiliou, said "the Italian authorities have sent us all the information requested and we can affirm that there is no risk to public health."

Papadoulaki also denied that the wine at the center of the Italian investigation contained harmful substances.

Big Italian Wines at Bargain Prices

Southern Italy offers price-conscious wine lovers an astonishing array of superb bargains for $25 or less, often made from indigenous grapes that were largely unknown to consumers several years ago. My colleague Antonio Galloni reports that southern Italy offers a wide assortment of wines, with a veritable kaleidoscope of grape varieties and styles. Despite the weak dollar, this region is still a treasure trove for great deals.