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Prosecco is an Italian sparkling white wine, generally a dry or extra dry wine. It is made from Glera grapes, formerly known also as “Prosecco”, but other grape varieties such as Bianchetta Trevigiana may be included. The name is derived from that of the Italian village of Prosecco near Trieste, where the grape may have originated. DOC Prosecco is produced in the regions of Veneto and Friuli Venezia Giulia, traditionally mainly around Conegliano and Valdobbiadene, in the hills north of Treviso. Prosecco is the main ingredient of the Bellini cocktail and can be a less expensive substitute for Champagne.
Unlike Champagne, its main commercial competitor, Prosecco usually is produced using the Charmat method, in which the secondary fermentation takes place in stainless steel tanks, making the wine less expensive to produce. The rules for the DOCG Prosecco Valdobbiadene also allow the use of the Metodo Classico: secondary fermentation in the bottle.
Approximately 150 million bottles of Italian Prosecco are produced annually. As of 2008, 60 percent of all Prosecco is made in the Conegliano and Valdobbiadene area. Production there amounted to €370 million in 2007. Since the 2000s, Glera (Prosecco) grapes also are cultivated and wine from the grapes is produced in other countries including Brazil, Romania, Argentina, and Australia.
In the region of Conegliano and Valdobbiadene there are more than 150 producers and they form together the Consortium for the Protection of Prosecco from Conegliano and Valdobbiadene (Consorzio per la Tutela del Prosecco di Conegliano e Valdobbiadene). Prosecco is produced mainly as a sparkling wine in either the fully sparkling (spumante) or lightly sparkling (frizzante, gentile) varieties. Prosecco spumante, which has undergone a full secondary fermentation, is the more expensive variant. The sparkling variants may contain some Pinot bianco or Pinot grigio wine. Depending on their sweetness, in accordance with the EU Sweetness of wine Regulations for Terms used to indicate sweetness of sparkling wine, Proseccos are labelled “Brut” (up to 12 grams per litre of residual sugar), “Extra Dry” (12–17 g/l) or “Dry” (17–32 g/l).
A still wine (calmo or tranquillo) also is made from Glera grapes – it amounts to only about five percent of production, but this wine is rarely exported. Wines from the traditional Conegliano–Valdobbiadene production area are labeled as “Prosecco di Conegliano-Valdobbiadene”, “Prosecco di Conegliano”, “Prosecco di Valdobbiadene”, or “Prosecco DOC” from Friuli. Proseccos labeled with another, non-protected designation, such as “IGT-Veneto”, are generally cheaper and of a more varied quality.
The hill of Cartizze is a 1,000-foot-high vineyard of 107 hectares (260 acres) of vines, owned by 140 growers. The Prosecco from its grapes, of which comparatively little is produced, is widely considered to be of the highest quality, or even the “Grand Cru” of Prosecco. Accordingly, a hectare of Cartizze grape land is estimated to be worth in excess of one million US dollars. According to a local legend, Cartizze grapes traditionally were harvested last, as the vines were situated on steep slopes and hard to reach, which made vintners discover that this extended ripening period improved the flavour. Nonetheless, in a blind tasting at the 2006 Vinitaly trade fair, Cartizze spumanti were ranked consistently behind “normal” Prosecco.
Viticulture has existed in the land of Israel since biblical times. In the book of Deuteronomy, the fruit of the vine was listed as one of the seven blessed species of fruit found in the land of Israel(Deut. 8:8). The location of Israel along a historic wine trading route between Mesopotamia and Egypt brought winemaking knowledge and influence to the area. Wine played a significant role in the religion of the early Israelites with images of grape growing, harvesting and winemaking often being used to illustrate religious ideals. In Roman times, wine from Israel was exported to Rome with the most sought after wines being vintage, dated with the name of the winemaker inscribed on the amphora. In the 7th century, the Islamic conquest of the Middle East virtually wiped out the region’s wine industry with wineries closing down and vineyards, planted with now lost indigenous grape varieties, pulled out. Winemaking was temporarily revived in the Crusader states from around 1100 to 1300 but the return of Islamic rule and the subsequent Jewish Diaspora extinguished the industry once again.
Annually from 2005 to 2012 Daniel Rogov, Israel’s leading wine critic and Food & Wine Critic for Haaretz, ranked Israeli wines in his Rogov’s Guide to Israeli Wines. In the 2012 edition, Rogov describes, sorts and ranks more than 2500 wines from over 150 Israeli wineries. Today Israeli wineries receive recognition from the worldwide wine industry as they are highly rated and win the most important wine rewards. One of the first accomplishments by an Israeli winery in the global world of wines was made by Domaine du Castel when their white wine was chosen as one of the best new releases in 2001. In 2012, Golan Heights winery received the prestigious ‘Wine Star’ award of the ‘Wine Enthusiast’ known magazine. The Golan Heights winery has also won the ‘Gran Vinitaly Special Award as the best wine producer ‘ title in Vinitaly competition of 2011.
The wine advocate, Mr, Robert Parker has been rating Israel’s wines for more than five years now, when many Israeli wines received a score of more than 90. Yatir Forest wine by Yatir winery was granted more than 90 points for seven vintages in a row, the same accomplishment made by Domaine du Castel’s Grand Vin wine. The Cabernet reserve of Flam winery of the Judean hills, was included in the important ‘ La Revue Du Vin France’ French magazinelist of 100 outstanding wines.
Galil Mountain winery won two awards in the ‘Citadelles du Vin 2011’ competition which was held at the Vinexpo 2011 in France. In Hugh Johnson’s wine pocket book, written by the British important wine critic, Domaine du Castel winery received the full 4 stars and Yatir winery 3-4 stars, the highest rating available, since 2008. Hugh Johnson has also selected Domaine du Castel’s Grand Vin wine to be one of his personal 200 favorite wines from all around the world. Israel’s reds, whites and rosés also have been praised by Robert Parker and Oz Clarke. When Parker first reviewed Israeli wines in 2007, he awarded 14 of them more than 90 out of a maximum 100 points, rating them world-class. Clarke included two Israeli wineries, Domaine du Castel and Yatir Winery, in his Pocket Wine Book 2010. Kim Marcus, managing editor of Wine Spectator magazine, was not impressed by Israel’s wineries in the 1990s, but in 2008, he wrote that quality had improved immensely, especially the red wines.
Investment wine, like gold bullion, rare coins, fine art, and collectible trading cards, is an alternative investment other than the traditional financial holdings of stocks, bonds, cash, or real estate. While most wine is employed as a consumable beverage, some wines are purchased with the intention to resell them at a higher price in the future. Due to the limited production and availability of investment wine, every bottle that is opened by consumers raises the value of remaining bottles.
While premium wines have been around for centuries, the formal and organized sale and resale of the best wines for profit became a more established phenomenon in the late 1970s and early 1980s. Indeed, at least in the United States in the 1960s and early 1970s, newspaper articles about investing in wine were more likely to warn that it is illegal for individuals to sell wine, and that the “investment” would be drunk by the investor.
However, by the mid-1980s, in the state of Illinois, and in special cases in California, it was legal to sell wine without a retail license, and more investors were learning how to transact their trades through legal brokers with the necessary licenses. In Europe, laws are much less restrictive regarding wine selling and reselling.
Wine as an investment does have some concerns, including the fact that (unlike dividend-paying stocks and bonds) stored wine produces no return for the investor until it is sold, and insurance and storage costs will mean the investor is losing money while waiting for the wine’s value to appreciate. There is low liquidity in U.S. wine inventory, as most U.S. states will only allow private wine sales through auctions, which themselves may take a commission of 15% to 25%. Investment in fine wine has attracted fraudsters who prey on their victims’ ignorance of this sector of the wine market. Wine fraud often works by charging excessively high prices for off-vintage or lower-status wines from famous wine regions, while claiming that it is a sound investment unaffected by economic cycles.
