Is sherry coming home?

Consequently, the sherry bonanza of the 1960s/1980s turned into a wake. Small bodegas were absorbed by larger ones, quality declined, although the leading brands of Tio Pepe and La Ina are still exemplified by wines that are cheap and undistinguished, rather like Möet et Chandon in the case of champagne.

Sherry sales increased by 12% last year for the heavier qualities and 24% for finos and manzanillas. And it's not just the wine. One of Scotland's biggest distilleries has bought into the Estevez bodega for 115 million euros – but the objective is sherry barrels, used for maturing Scotch, ergo an 'infinity cask' that will last 100 years. Now that is taking the long view.