GFM Network News

China seen set to become world’s second-biggest wine market

Reading Time: < 1 minute Paris | Reuters — China is set to overtake Britain and France to become the world’s second-largest wine consumer by value behind the U.S. by 2020 as consumers turn to more middle-range wines, the International Wine and Spirit Research (IWSR) organization said Thursday. In a study for wine fair Vinexpo it forecast Chinese wine consumption […] Read more

B.C. to defend wine industry against U.S. trade action

Reading Time: < 1 minute Vancouver | Reuters — The British Columbia government said Wednesday it would defend its wine industry against a trade challenge from the U.S., and was confident it was not breaking any international trade rules. Earlier Wednesday, the U.S. said it started action against Canada at the World Trade Organization, accusing B.C. of discriminating against U.S. […] Read more

Dan Aykroyd’s winemaker raises funds for expansion

Reading Time: 2 minutes The Niagara-area maker of actor Dan Aykroyd’s wine line is set to sell up to $8.8 million in shares to expand its main wine production site. Diamond Estates Wines and Spirits on Dec. 2 announced an agreement with Paradigm Capital and GMP Securities to sell up to 22.73 million common shares at 22 cents per […] Read more

World wine output seen at four-year low

Reading Time: 2 minutes Paris | Reuters –– Worldwide wine production is expected to fall this year to its lowest since 2012, chiefly due to adverse weather that sharply cut output in France and South America, wine body OIV estimated on Thursday. Global wine output is set to decrease by five per cent compared with last year to 259.5 […] Read more

Switzerland to recognize Canada’s organic wine, processed foods

Reading Time: < 1 minute Canada and Switzerland have reached a deal to recognize each other’s organic certifications on wine and “multi-ingredient” foods. The two countries on Thursday announced expansions of their previous organic arrangement, which deems their respective certification systems to be equivalent for organic ag commodities and agrifood products. The amended deal takes effect Saturday (Oct. 1). The […] Read more

Constellation seeks $1B valuation for Canadian wine unit

Reading Time: < 1 minute Reuters — Constellation Brands is seeking a valuation of about $1 billion for a possible initial public offering of its Canadian wine business this year, Bloomberg reported on Friday. The unit, which includes eight wineries and 160 retail locations across Ontario, is expected to list in Toronto as early as the fall, Bloomberg reported, citing […] Read more

Italy’s Ferragamo suing ex-Als QB over same-name winery

Reading Time: 2 minutes Reuters — Salvatore Ferragamo SpA, the Italian luxury goods maker, on Wednesday sued former Montreal Alouettes and Los Angeles Rams quarterback Vince Ferragamo, saying he infringed its trademarks by operating his namesake winery in southern California. Consumers are likely to be confused into thinking the Ferragamo Winery and Ferragamo SpA are related, the Italian company […] Read more

Nova Scotia pledges food donation tax credit in budget

Reading Time: 2 minutes A tax credit for Nova Scotia farmers who donate produce to local food banks is among the policy plans laid out in the province’s latest budget. Finance Minister Randy Delorey’s budget on Tuesday showed an overall $17.1 million net surplus position on $10.15 billion in total expenses and $10.26 billion in total revenues (minus $110.3 […] Read more

World wine trade buoyed by rebound in China demand

Reading Time: 2 minutes Paris | Reuters –– Wine exporters toasted an upturn in Chinese wine consumption in 2015 after a two-year decline, as a growing taste there for reds helped global wine trade expand, the International Vine and Wine organization (OIV) said Monday. Chinese imports jumped 44 per cent to 5.5 million hectolitres, while overall consumption in the […] Read more

Wine, foreign content now covered in organic pact with EU

Reading Time: 2 minutes The deal that clears Canadian-certified organic food for sale as organic in the European Union is now expanded to cover Canadian-processed products with some imported ingredients — and to include organic wine. Canada’s Agriculture Minister Lawrence MacAulay and EU Agriculture Commissioner Phil Hogan on Thursday confirmed the expansion of scope for the EU-Canada Organic Equivalence […] Read more