[Source] : Singapore Exhibition Services by 2010-01-05  via wines-info.com

Singpore will host hundreds of wines from around the world in April, with the fourth annual WSA Wine Challenge.

The WSA Wine Challenge 2010 (formerly known as the Wine & Spirits Asia Challenge), seeks to promote knowledge, prestige and value of world-class wines to Asia. The competition will feature the participation of wineries, winemakers, wine importers and traders from all over the world.

Submissions will be judged by country, region and varietal. Special awards will be bestowed to the Best Red, Best White, Best Sparkling and Best Wine of Challenge.

The event is now open for entries.The deadline for entry is March 15 2010, and all entry wines must be shipped to the competition venue by April 6 2010. The wines will be judged on April 17 to 19 at the Raffles Town Club, and final results will be announced on April 19 2010.

The WSA Wine Challenge was formed as a part of WSA (Wine & Spirits Asia), an international trade event dedicated to wine and spirits products and services. The exhibition serves as a platform to connect wine and spirits buyers from Asia with international sellers. Winning wines will be prominently displayed and opened for tasting at the WSA2010 show floor from 20 to 23 April 2010, presenting winning wines the chance for exposure to potential wine buyers from Asia’s food and hospitality industry.

Click here to access the complete article from wines-info.com

By Peter Brieger (AFP) – Nov 7, 2009

HONG KONG — Chinese wine imports have soared more than ten-fold in the past few years but foreign producers hoping to cash in on the boom are warning the market is fickle and not for the faint of heart.

China is on track to import 10 million cases of wine this year, up from 840,000 in 2004, according to the Hong Kong Trade Development Council (HKTDC).

Asian wine consumption, excluding Japan, is expected to double from this year to 27 billion US dollars in 2017, the council believes, with much of that growth driven by Hong Kong and cash-rich China.

In another sign of the growth of the market, last week’s Hong Kong International Wine and Spirits Fair, the second such annual event, attracted 520 exhibitors from 34 countries — double last year’s number.

“Many people are shocked by the speed of the growth,” said Raymond Yip, the HKTDC’s assistant director. “But there is a lot of pent-up demand for wine.”

The disposable income of an emerging Chinese middle class has grown and many of its members are choosing wine as a healthier alternative to spirits, Yip said.

“People are getting more health conscious and all of a sudden wine has become fashionable,” he added.

But Raymond Signorello, proprietor of Signorello Vineyards in California’s Napa Valley, said he has been struggling to find the right agent to market his premium reds on the mainland.

“It’s kind of a gold rush,” he told AFP from his booth at the fair.

[...]   Click here to read the full article from AFP

(CNBC) – Hong Kong may eventually overtake New York and London as the world’s largest wine market, with experts saying the territory could generate $65 million in wine auction revenues in 2009, or about 25% of the global total. CNBC’s Emily Chan reports.

The Hong Kong International Wine and Spirits Fair takes place on November 4-6, 2009. Click here for more info.

(Newswire:  businesstimes.com.sg)

When Hong Kong slashed its alcohol taxes to zero last year, it put a dent in Singapore’s attempts to grow as a wine business hub of Asia. Without the huge mainland Chinese market in its backyard, wine businesses have also found it a challenge to grow the local industry, even as Singaporean palates become more sophisticated and the demand for more variety increases.

However, recent activity has shown that the industry is not being stymied by Hong Kong. It has instead found several niche areas that are showing some promise.

Wine conferences and fairs

This is turning out to be an area of growth as organisers see greater interest from consumers in learning more about wine while distributors, retailers and restaurateurs reap benefits from visibility, networking and co-operation.

This week, for example, sees the International Congress of Chinese Cuisine & Wine (ICCCW) and Wine For Asia (WFA), running back-to-back, while the Singapore Wine Fiesta starts at the end of the month.

The ICCCW conference was founded last year by local publisher and columnist Ch’ng Poh Tiong, and it’s a feather in Singapore’s hat that after its first year in Beijing, he brought it here instead of tax-free Hong Kong, although it will be touring there next year.

‘The choice of venue is not dictated by local tax regimes vis-a-vis wine,’ explains Ch’ng. ‘Our goal is to spread the concept, and culture, of wine with Chinese cuisine wherever Chinese cuisine is highly appreciated.’

…

Click here to access complete article from Businesstimes.com.sg

[Source] – Businesstimes.com.sg Written by Christopher Lim and additional reporting by Melissa Lwee

For all the toothsome crabs and delicate siu mai that make Hong Kong one of the world’s best places to eat, until recently wine was largely enjoyed more as a marker of status than as a complement to a meal. Wine programs and shops in the city’s main district catered to local tycoons and expatriates with a taste for Bordeaux and expense accounts to match.

But venues for wine—shops, tasting bars and even a winery—now flourish in the city, thanks to a happy convergence of factors that includes reduced taxes and a government mandate declaring 2009 “Food & Wine Year”. Auction houses are clamoring to sell fine Bordeaux, Burgundies and Barolos and ever more restaurants are hosting dinners with wine makers flown in for the occasion. Tasting events, trade shows and oenology courses abound. A recent Sotheby’s auction of two American-owned wine collections raised $7.9 million, almost 30% more than estimated.

Still, many of the best and most interesting sites are tucked away, often a short taxi ride out of central Hong Kong.

Click here to access the complete article from the WSJ

[Source] – The Wall Street Journal, by Jake Lee

[Source] – AFP

Hong Kong overtakes NY, London in wine auctions
Hong Kong has overtaken New York and London as the largest wine market for two of world’s biggest auction houses, the firms said Tuesday, highlighting a trend spurred by surging demand from China.

Sotheby’s said its wine auction held in the southern Chinese city over the weekend, together with another one in April, have raised 14.3 million dollars.

The figure surpassed those of New York and London, which respectively recorded sales of 10.5 million dollars from four auctions and of eight million dollars from seven auctions held this year, the auction house told AFP.

Christie’s also said that its recent auction results have also shown that Hong Kong is taking over New York and London as its largest wine market.

“In Sotheby’s first year of selling wine in Asia, Hong Kong has become (its) most important wine centre, ahead of very successful auctions in New York and London,” said Serena Sutcliffe, head of Sotheby’s international wine sales.

“Sotheby’s have exciting plans to build on this momentum to bring to the market top collections in 2010,” she added.

Sotheby’s and its rival Christie’s began to hold regular wine and champagne auctions in Hong Kong after the city’s government abolished duties on wine imports in 2008 in a bid to establish the city as a regional wine hub.

China’s economic boom and growing demand for top French wines has become the key driver of Hong Kong’s wine market, as can be seen from the increasing number of mainland Chinese bidders at the auctions.

At Sotheby’s weekend sales, a Chinese bidder splashed out a record 93,077 dollars for a bottle of 1982 Chateau Petrus Imperial.

Sutcliffe said 99 percent of buyers in the two-day auction were Asian buyers, including those from China, Hong Kong, Taiwan, Singapore, Indonesia and the Philippines.

The latest auction fetched almost 30 percent more than Sotheby’s estimate of 6.13 million dollars.

David Elswood, head of Christie’s international wine department, said its Hong Kong wine auctions had the highest average lot values among its global sales, at 150,000 dollars per lot.

“Asian buyers are very active not only in Hong Kong, but also in the international wine market,” Elswood told AFP.

This spring, Asian buyers accounted for 61 percent of Christie’s global wine sales in New York, London and Hong Kong, whereas they made up only seven percent of global buyers in 2005, he said.

“Buyers from Hong Kong, Taiwan and mainland China also grew substantially between last autumn and this spring at our auctions. We expect this trend to continue.”