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The consortium of Chianti Classico producers has decided to put less of the famous wine on the market in order to stabilise prices.
Similar initiatives have recently been adopted by producers of other prestigious wines including those making Champagne in France.
Prices for upscale wines have been falling due to a drop in demand linked to the current global recession.
''The economic downturn, together with a strong euro over the dollar, has hurt us and forced us to adopt measures to counter the decline in prices,'' explained Chianti Classico consortium chief Marco Pallanti.
''We are fortunate that in our favor we have been producing excellent vintages over the past five years and all indications are that this year will be the same,'' he added.
''For this reason we have decided not to cut production but to store more wine for the future and put less on the market,'' Pallanti said. The Chianti Classico consortium decided to limit the amount of its wine it will bottle for sale for a period of up to two years. Chianti Classico is an upmarket version of the famed Tuscan blended wine and by definition can only come from a 7,000-hectare area between Florence and Siena.
by S. C.
26 july 2009, World News > Italy