Taste for quality

Consumption in the US of fine wines priced above US$20 is expected to increase by around 10 per cent this year, while low-priced generic jug wines are set for a decline, according to an industry report released by the Silicon Valley Bank. As a result, 62 per cent of US winery owners are planning to increase prices this year, the survey found. However, millennials, who now buy 16 per cent of fine wines sold in the US, don’t have the same strength of allegiance to domestic wines as baby boomers and their parents, the report says.