Our vice-president, Peter Wellburn, wish to share this story with the Circle's members.

"I was watching a farming programme on tv here the other day. I understood that because the summer has been so sunny (not a cloud from May until a week ago...) the grapes this year have a high sugar content but less acidity so the crop will be worth 15% less - and farmers are complaining... On the other hand the unbroken sunshine has produced a record crop of olives (Europe's larges olive groves are just north of Almeria on the way to Jaen). However the olive growers are also complaining because that means the price of olive oil has fallen - but not for the consumers as the large pressing concerns are stockpiling supplies to create a shortage and drive the price up in supermarkets! Something seems wrong somewhere. The message seems to be 'don't stock up on this year's Spanish wines as they are not likely to be sought after. On the other hand perhaps it's a good time to lay in some bottles of olive oil..."