KEY POINTS:
If there was any chance of feeling homesick for New Zealand on a recent trip to Britain, then there was plenty to prevent it. In the month I spent there, I could have caught Ladyhawke and Nathan Haines in concert or sipped a cold Speights at The Southerner
pub off The Strand. But what really struck me in nearly every bar and restaurant I visited - and believe me I frequented far too many for the dimensions of my wallet or waistline - was the omnipresence of our wines.
I discovered that New Zealand sauvignon blanc is now almost obligatory on most London wine lists. Over the past year, many of the better restaurants appear to be featuring more New Zealand pinot, and I was gobsmacked when I went to a friend's relatively modest local and found a Hawkes Bay syrah among their small selection of wines.
On finding out where I came from, strangers sang the praises of our sauvignon as well as our scenery. It seems to have captured their palates so much they're prepared to pay £2.12 ($5.70) more for a bottle of our wine on average in the shops than for its nearest competitor, France. It's a similar story across the ditch where our sauvignons have taken off in a way that no one predicted. New Zealand's largest overseas market by value, exports to Australia soared by a staggering 37 per cent in value over the last year, while Oyster Bay Sauvignon Blanc has just become Australia's biggest-selling white wine.
With our domestic consumption rising too slowly to absorb the advancing sauvalanche from the estimated 4000 ha of new vineyards likely to spring up over the next year, exports have become key to the success of our wine industry. Wine is now our second most important horticulture crop after kiwifruit and record-breaking figures just released for September indicate more than $100 million worth of wine was exported: that's more than was exported in an entire year just a decade ago.
But is the bubble going to burst, especially in the light of the credit crunch? "We are closely monitoring export levels in light of the global economic slowdown, but current demand in key markets remains strong," says New Zealand Winegrowers chief executive Philip Gregan.
A recent Rabobank report on the state of the industry reported that consumer spending on wine is generally immune from significant economic downturns - roughly translated, in tough times drinkers need their booze to help them through, they just tend to consume more at home rather going out for their tipples.
New Zealand has already started to see wine consumption fall in restaurants. And abroad, while reports suggest New Zealand has yet to be affected in its most important retail market, Britain, there have been worrying stories suggesting that British supermarket giant Tesco is demanding suppliers cut their prices and increase the funds they put into promotions to help the chain ride out the economic storm.
After 2008's bumper vintage, New Zealand has more wine than ever to sell, with the Rabobank report voicing "concerns about the size of the 2008 harvest and its potential to tip the New Zealand industry into an oversupply situation".
Wine drinkers may be enjoying our wines from Beijing to Bognor Regis, but in these financially shaky times the rich pickings that have driven New Zealand's wine success so far may just be that little bit leaner.
Top Exports
NZ's big red
Bird Big Barrel Marlborough Pinot Noir 2007 $38
Pinot noir is New Zealand's most widely grown and exported red variety. This is a fine example from the new label of Thornbury founder, Steve Bird, which is full of ripe and fresh dark plum fruit, with a whiff of smoked meat and spice.
(From Wine & More, Point Wines, Caro's, Liquorland: Mt Eden, Newmarket & Howick, Waiheke Wine Centre, Hillsdene Cellars, Uncorked, Golddiggers.)
Rising international star
Lake Chalice Eyrie Vineyard Marlborough Pinot Gris 2008 $19.90
Demand for pinot gris has soared, with sale spiking over 100 per cent in some major export markets, according to Rabobank. This is an intense and elegant dry expression from Lake Chalice that matches rich pear fruit, spice and savoury notes with a fresh minerally finish.
(From Glengarry.)
Sauvignon success
Mount Riley Marlborough Sauvignon Blanc 2008 $18.95
Sauvignon blanc accounts for 76 per cent of New Zealand's wine exports and currently shows no sign of faltering. Mount Riley has crafted a classic and citrus-driven example in which vibrant passionfruit is threaded with grassy herbal and mineral notes.
(From New World, Foodtown, Woolworths, Wine Direct, First Glass.)