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 admin@efpromosies.co.za or 021 863 1599.
