Poor harvests 'push price of wine up 10 per cent'

The Wine and Spirit Trade Association says that poor grape harvests and increasing prices for raw ingredients are to blame for the looming price rise. The association, which also points the finger at rising energy and transport costs, has asked the Treasury to freeze duties on wines and spirits in its March budget - Daily Telegraph​

Mitchells & Butlers is understood to be considering the closure of a disastrous hedging position in a move that could cost the group substantially more than £260m - well in excess of a year's profit. As the prospect of utilising the unwanted position in a £4.5bn property disposal or demerger recedes, the managed pub company is believed to have turned its attention to assessing the most appropriate strategy for closing out the hedges in a way that will minimise losses - Guardian​

German wine has started to make a comeback, as consumers turn increasingly to the valleys of the Rhine for a lighter, high quality, tipple. Leading retailers have reported an increase in the popularity of German wine as growers prepare to promote a new range in an attempt to transform its image. Tesco is expanding its range of riesling after sales increases of 71 per cent in the past year - Times​

Diageo said on Monday it would extend its operations in the US premium wines market with the $105m acquisition of winemaker Rosenblum Cellars. Diageo, owner of the Guinness, Johnny Walker and Smirnoff drinks brands, already owns vineyards in California and its Chateau and Estate Wines business has brands that include Beaulieu, Sterling, and Chalone - Financial Times​

Egg sales are soaring at their fastest rate in 15 years on the back of a publicity drive to promote them to slimmers. Britons bought £600million-worth of eggs last year - up 16 per cent on 2006, according to a report from industry analysts TNS. The number of eggs sold rocketed by more than 100 million over the past 12 months - Daily Express​