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TNWG Wine Times: Ep 42: Wines of Crete

In keeping with looking ahead to our holidays and time away, I thought the series should continue with a trip to Crete, for some recommendations of wines to try and vineyards to visit this week!


UPCOMING EVENTS:

First, as per usual, a reminder to GRAB YOUR TICKET for the Wine & Cheese Network in Sheffield:



When: Thursday 24th April 6pm - 8.30pm

Where: Yard Gallery, Leah's Yard, Sheffield City Centre



Wines of Crete



(Source: winesofcrete.gr)


History


There is evidence of vines in Crete from back some 4000 years ago! In fact, the oldest wine press was found (3500 years ago). The zone of PGI Create was created in 1989 and comprises of 4 districts - namely - Lasithi, Heraklion, Rethymnon and Chania. Most of the vineyards are situated north facing, so as to be sheltered from the warmer winds off the Libyan Sea and the intense heat.


Overall, Crete is home to one of the largest vineyards in Greece, in size and production. 


1970s Onwards

A couple of factors dramatically changed the wine landscape in Crete from the 1970s. Firstly, there was an explosion of tourism, the second was the production of wine on the island was gradually passed on to organised wineries. Wine production standards and developments increased alongside globalisation and technological advances that have been seen across the wine making world too. 


Distinctive Soils

Now, without getting too geeky, it is worth mentioning that Crete has some distinctive soils and terroir from which to grow wine. It is the result of calcisol soils in mountain ranges and that all too familiar Med climate that we like to bask in. This brings with it a whole list of indigenous and international grape varietals that can be grown in the climate.


Grape Varieties

Crete has a wide array of grape varietals which are grown throughout the island. Firstly, let's look at some of the INDIGENOUS Varietals:


  • 🍇 VILANA - White - Deemed 'the island's white star' - known for its lemon scented acidity.

  • 🍇 VIDIANO - White - apricot aroma, rich body and creamy texture. Greek Viognier perhaps?

  • 🍇 DAFNI - White - a unique flavour profile, ranging from thyme, rosemary, quince and laurel.

  • 🍇 THRAPSATHIRI - White - grown throughout Crete, think lemon, tangerine, banana, pineapple

  • 🍇 MUSCAT OF SPINA - White - small batch production, orange blossom, lime, chamomile, jasmine - a little treat.

  • 🍇 PLYTHO - White - refreshing acidity, lemon scented and light with small nuances of tea leaves and pink grapefruit.

  • 🍇 MALVASIA DI CANDIA - White/Sweet - lime, orange peel, lemon blossom, spearmint - create both sweet and dry wines.

  • 🍇 KOTSIFALI - Red - soft, plummy wines which are synonymous with Merlot.

  • 🍇 LIATIKO - Red - lacks colour but makes up for it with sweetness and character. Strawberries, figs, both sweet and dry wines.

  • 🍇 MANDILARI - Red - 'King of the native reds' - plums, figs, raspberries, leather, liquorice.

  • 🍇 ROMEIKO - Red - lively red wines with high alcohol, a traditional wine called MAROUVAS - is made from this, and is typically Sherry-like. 


International Varieties found:


  • RED: Cabernet Sauvignon and Syrah

  • WHITE: Sauvignon Blanc 



👉 Best Vineyards to Visit in Crete


Given it is such a large island, I have tried to split out the vineyard visits to regions, so that, depending on where you have flown into, there will always be some choices for you to visit.


👉 CHANIA Region:


  • Pnevmatikakis Winery

  • Karavitakis Winery

  • Manousakis Winery - Nostos Wines

  • Agia Triada Tzagkarolon Monastery

  • Dourakis Winery

  • Anoskelis Winery 


👉 RETHYMNO Region:


  • Klados Winery

  • Kourkoulou Winery

  • Zoumberakis Winery


👉 HERAKLION Region:


  • Alexakis Winery

  • Maragakis Winery

  • Paraskevas Winery

  • Silva - Daskalaki Winery

  • Douloufakis Winery

  • Idaia Winery

  • Efrosini Winery

  • Diamantakis Winery

  • Boutari Winery

  • Minos - Miliarkis Winery

  • Digenakis Winery

  • Domaine Paterianakis

  • Lyrarakis Wines



Enough vineyards to visit for you? Ok so, that is a long list so take a look at my top tips for a select few that I would tend to favour.


🚨 TNWG HOT TIPS 🚨


My favourite is a lesser known Manousakis Winery - where you can have a lovely lunch with some wines aligned and I have even had wines sent back to the UK from there too. Brilliant enjoyable wines! Try Nostos Alexandra! Boy, what a red wine!


Places like Lyrarakis, Dourakis, Scalarea are all larger established wineries which will cater for all your needs, should you be looking for the larger producing estates.



🗞️ LATEST DRINKS INDUSTRY ARTICLES 🗞️


Largely behind the scenes and without fanfare, Majestic's, who are the UK's largest specialist wine retailer, have acquired Enotria & Coe - one of their largest competitors in the premium distribution space. Watch this space, but as Majestic's also own Vagabonds too, they are showing the rest of the market the way forward.


OTHER HEADLINE REPORTS THAT CAUGHT MY EYE THIS WEEK:


📈 MARKETS IN BRIEF 📉


On the week (as at 3rd April 11:00 LDN) changes:

EQUITIES: ⬇️ FTSE 100 down 1.52%; ⬇️ DAX down 3.3%; ⬇️ S&P 500 down 1.6%; ⬇️ Nikkei 225 down 7.7%; ⬇️ Dow Jones down 0.43% (yet to open today).

COMMODITIES: ⬇️ Brent Oil down 1.34% ; ⬇️ Crude Oil down 1.3% ; ⬆️ Gold up 1.6%; ⬇️ Silver down 5.7%; ⬇️ Copper down 5

BONDS (in yield terms): ⬇️ UK 2yrs lower 0.254%; ⬇️ UK 10yrs lower 0.2145%; ⬇️ German 10yrs lower 0.133%, ⬇️ US 2yrs lower 0.263%; ⬇️ US 10yrs lower 0.341.


Last week it was all about the Spring Statement (I even made a local appearance on ITV post statement), but this week has firmly been MR TRUMP. Trump announced late yesterday that he would impose a 10% duty on all foreign imports into the US and impose greater levies on trading partners. China, the EU, Japan and India are in line for the elevated tariffs, which will likely see most retaliate with their own tariffs (see China and EU speaker headlines already to this tune). This has a result will have global implications and if upheld for any serious period of time, will likely take the US and potentially the world, into recession.

Interestingly and more specifically to the wine industry, this could have far reaching implications as some US wine stores and restaurateurs in the US have already said that markets such as Prosecco, Pinot Grigio and low cost French rose could now be a dying market, as the prices are hiked of all of these products to elevated levels that consumers will not look to pay. If there was any 'good' news, it was that the wine industry didn't see the full threatened '200% tax' on EU wine. There are benefits if you hold American lead names such as Opus One, Scarecrow, Spread Eagle - if they are already stored in bond ahead of the tariff's coming into effect, there is likely to elevated price action.


In equities this has clearly had a detrimental effect, and some of which has not been fully priced in as yet with the Dow Jones as I type, still yet to open. Safe haven assets - eg government bond curves and Gold have a good bid tone to them but for most of us, the equity portion of our exposure is sure to be in the red, especially for those pensions whilst the Trump news is digested. I expect further weakness to be priced into equity markets in the coming days and I did add some short end Gilt exposure, on a hold to maturity basis ahead of the Trump announcements as extra bond exposure and to beat the savings account interest rates!


For me near term, I am still keen to lock in rate where I can, short end gilts still offer the best value on a hold to maturity basis, given they benefit from zero capital gains tax, the interest is only payable on the coupon (so favour low coupon bonds) and you can get a better interest rate than savings account, which will continue to fall given the expectation of further UK rate cuts later this year.


Why did Trump do it?


Trump works off a number of reasons for applying tariffs across the globe. He is looking to galvanise manufacturing domestically, respond to unfair trade policies in his eyes from other nations taking place currently, increase tax revenues, and incentive the crackdowns he wants to achieve on trafficking and migration. However, the response from other nations is likely to hurt them.


For me, this takes us a little closer to serious world problems both financially but more worryingly relationship wise too. Some of the Chinese imported goods will now be over 50% and weaker areas of Asia are going to struggle too. Is the targeting of large countries like China a ploy to remain the largest superpower....possibly. 


One potential uptick domestically (if I have to find one which is hard to do) is that the UK in theory could use this moment to strength other trade links and trade relationships and economic shifts could benefit government borrowing. However, this takes time and effort from many areas and the tariffs come in from April 5th!


It's going to be a tough period folks, so hang on to your hats, is my message this week!


Thanks very much for reading, as always please do send me feedback, comments or discussions or DM me to learn more about any wine region or wines in general or how The Northern Wine Guy can help you with its services.


Best Regards,

🍷Andy a.k.a. The Northern Wine Guy🍷

 
 
 

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