Decanter magazine is quoting David Cox, European director for New Zealand Winegrowers, saying the sale of £3.99 Marlborough sauvignon blanc is a short-term 'blip'.

Cox told the magazine that big vintages this year and last created an oversupply problem, leading New Zealand wine producers to clear tank space at lower prices.

David Cox said he doesn’t think the consumer will ever get to the stage where they think they can get New Zealand wines for under £4 and he predicted our oversupply problems should be over next year, with “supply balance” restored by the 2010 vintage.

“We have stopped planting and we have opened new markets,” he told Decanter.