Which statement is the most accurate regarding Carménère in Chile?

The statement that Carménère was thought to be Merlot until a 1994 discovery is correct because it highlights a significant moment in Chilean wine history. For many years, the Carménère grape was misidentified as Merlot due to similarities in the vines and grapes. This confusion persisted until a group of Chilean viticulturists and researchers conducted DNA testing in the early 1990s, which ultimately revealed that the red grape variety being grown was actually Carménère. This discovery not only corrected the misidentification but also allowed Chile to fully embrace and promote Carménère as a distinctive varietal in its own right. The grape has since become one of Chile's signature varietals, contributing to its unique identity in the global wine market.

Recognizing this moment is crucial in understanding the evolution of Chile’s wine industry and the rediscovery of its unique terroir, leading to a renewed focus on varietals that were historically significant to the region.