Strong Pound could mean a move back to French & European wines

There was a time when the only wines we drank in the UK were from France or Germany. Recent years have seen a real shift in consumer tastes with a lot more New World wines being the wine of choice for UK consumers. Californian wine from the US, Australian and New Zealand wines have all seen massive growth in the UK market. But could we see a shift back to French wine with the pound at a four year high against the EURO? Suddenly French wine, which has often been perceived as overpriced, could be seeing a revival for those looking for wine at a reasonable price.

Sterling is currently the best performer of the top 10 most traded currencies globally year to date. In the last four years against the EURO the pound has averaged at 0.84 compared to an average of 0.7 over the previous 4 years to 2008. Whilst wine investors are rubbing their hands together it will be interesting to see how much of the savings the big boys actually pass onto the man in the street.