TRADING OF BULK WINE EFFECTIVE AND SOCIALLY RESPONSIBLE
IBETA Bulk Trading Floor™, a brand new South African business entity, introduces a revolutionary and effective solution for the trading of quality bulk wine. This innovative entity is simultaneously committed to promote the spiritual well-being and a healthy self-worth of children in the local wine industry. IBETA Bulk Trading Floor™ is owned by International Bulk Exchange, Trade and Auction (IBETA).
This dynamic concept gives winemakers the opportunity winemakers to enter their uncontracted tanks and lots (any volume and from any vintage) three times a year (June, September and December) for a two-week window period to be traded via the IBETA Bulk Trading Floor™. Panels of key buyers will review the available wines within cultivar groups and at the same reserve price, and then arrange them for the trading floor according to achievement – ready to be sold. The modern approach of these events that will take place at Allée Bleue’s Le Grand Hall will enable buyers to taste all the wines available in the industry for two days and then to use top technology for the digital bidding process. Contracting will take place directly between the buyer (highest bid) and the seller (relevant producer) and a 2% auction commission will be paid to IBETA.
IBETA feels that all wine industry role-players should take action in terms of their social responsibility and participation in the IBETA Bulk Trading Floor™ gives them the ideal opportunity to make a difference. “A minimum of 20% of the profits generated via the IBETA auction processes will be channelled to the Edge of Life Fund, a wine industry funding trust. As a prominent wine industry entity IBETA’s vision is to increasingly invest in the self-worth and spiritual well-being of children growing up in the South African wine environment,” says Philip Jonker, executive manager of IBETA.
Note: the closing date for entries for the first IBETA Bulk Trading Floor™ is 19 August. Judging will take place on 27 and 28 August, where after buyers will enter the trading floor upon invitation on 3 and 4 September. Interested parties can contact Elsabe Ferreira for more information regarding the competition or the entering procedures at firstname.lastname@example.org or 021 863 1599.