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Tesco invests in SA wine

This article was originally published in Foodnews

UK SUPERMARKET Tesco plc was one of the big spenders at this year's annual Nederburg wine auction, spending ZAR522 000 (USD75 000) on South African wine. The wine auction, which took place near Cape Town, featured 161 specialty wines from 81 producers. Bloomberg reported that the average price for a case of red wine was ZAR1 515 while a dozen bottles of dry white wine fetched ZAR1 100 average. Vintners raised 41% more money at this year's auction than last year's, with income reaching ZAR5.68 million, up from ZAR4.0 million. The biggest buyer was South Africa-based Spar Group Ltd, a retailer, with purchases of ZAR830 940.

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