Wine prices rise to record at Cape Guild Auction
WINE prices climbed to a record at one of SA’s biggest sales, with hotel group Tsogo Sun Holdings being the largest buyer for a third straight year.Sales at the 32nd Nedbank Cape Winemakers Guild auction increased 17% to R13.83m from a year earlier, the guild said in a statement on its website.The single-day event on October 1, which took place at the Stellenbosch Winelands saw record prices for red, white, Methode Cap Classique and port, it said. Fifty-two wines and a potstill brandy were showcased.Local purchasers bought 84% of the wines, with Tsogo, SA’s biggest hotel and gaming company, buying more than R2.6m of wine, it said.SA is among the world’s biggest producers of wine by volume. The country grows white-wine grapes, including chenin blanc, chardonnay and sauvignon blanc, and its red varieties include pinotage, which was created in the nation. The country’s almost 100,000 hectares of vineyards are mostly concentrated in the Western Cape and the industry employs 300,000 peop...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.