Chilean wine loss less than feared

• From Decanter.com

Earthquake damage to the Chilean wine industry is not nearly as bad as feared, the country's biggest producers say.

After a board meeting Wednesday at Vinos de Chile and Wines of Chile, the domestic and international operations that represent 95% of the industry, the verdict is that some 12.5% of the country's cellared wine has been lost.

That is about US$250 million worth of wine -- a figure that will not represent actual loss as the wine is insured, and moreover the country's wineries were overstocked, Rene Merino, president of Wines of Chile told decanter.com.

The meeting consisted of the heads of Concha y Toro, Errazuriz, Santa Rita, San Pedro, Undurraga, Montes, Veramonte, Casa Silva and Tamaya, as well as the country's biggest bottle manufacturer, Cristal Chile.

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