NEW WORLD WINE GAINING IN POPULARITY

The International Organization for Vine and Wine (OIV) forecasts that the Southern Hemisphere will grow 5% to 51.4 million hectoliters in 2008. They expect a rise in the Southern Hemisphere's share of world wine exports to almost 25%. Key markets include the U.S., Britain and Germany.

Production growth is helped by "aggressive marketing," according to the report. Some Chilean producers are even molding their wines to appeal to the U.S. palate, as consumption in the U.S. steadily rises.

Wine & Spirits Daily