Faustino Rioja prices drop 36%

FAUSTINO RIVERO prices have dropped a total of 36% for its young 1999 wines, following a second price reduction last Monday (see The print edition of Harpers Weekly, Rioja feature, 17 November). Giles Wood, sales & marketing director of Phillips Newman Agencies, confirmed the price reductions to Harpers. He described the development as "very, very good news". Faustino's Crianza wines have dropped an average of 17.5% and the Reserva wines by 11.5%. The young wines will retail in Unwins for about 4.49 and the "semi-Crianza" wines will be about 4.99. Navarra wine prices are also believed to be coming down by as much as 20%, bringing its wines to 3.99 or under.

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