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Euro overloads buyer’s work
The work rate for merchant wine buyers has significantly increased thanks to uncertain markets and subsequent volatile exchange rates.
Rebecca Palmer, buyer for London merchant Corney & Barrow has stated that her "workload has gone up 30% by just trying to deal with the Euro".
Palmer, who has worked for the Royal Warranted wine merchant for three years, stressed the importance of currency as part of a buyer’s job in today’s world.
"Having to re-negotiate pricing scenarios and re-looking at how we are doing pricing, it has to be very short-term at the moment but naturally that’s not sustainable long-term so we have to think of the solutions that work for us to overcome this and that’s the challenge," she said.
At the merchant’s annual tasting last week in the Tower of London, the buyer also noted that at the cheaper (not the cheapest) end of the market, C&B’s Chianti sales have suffered more than those of Rioja in the wake of the recession.
Her explanation for this outcome was that consumer’s perceptions of Rioja, at around the £7 retail mark, is considered to be more approachable and less tannic wine than Chianti by consumers.
Jane Parkinson, 12.10.2009