South American wines are on fire, and the reason is simple: "It's the biggest value in the world," declares wine consultant Greg Merz of Centennial Fine Wine and Spirits. Cono Sur Sauvignon Blanc 2009 with Ash Friday Brazos Select Cheese When the grape quality and winemaking are equal, he says, a $35 wine from Argentina is like a $70 to $90 bottle of wine from California. "The quality is in the bottle." And in the near- or less than-$15 category, a sweet spot for many wine-drinkers these days, South American wines deliver. Part of their attractive pricing stems from the dollar's fall against the euro, says Fort Worth's Carlo Croci. The Bella Italia West chef-owner divides his time between Texas and Buenos Aires. What does the euro have to do with it? The devaluation means Americans have to pay more for European Union wines.

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In addition, South American winemaking has undergone sweeping modernization over the past 15 years. And market forces have helped prune the industry the way grape growers prune for quality. The wines are New World by definition and international in style, but the Old World still exerts considerable influence, from the French grapes that have become synonymous with Chile and Argentina to the interest of world-class winemakers such as Bruno Prat and Michel Rolland. Malbec, a Bordeaux blending grape, is Argentina's signature varietal. "The terrain, the climate – everything is perfect for it," says Croci, who also owns four restaurants in Buenos Aires. "Argentinean wines were hard to get 15 years ago," he says. Now he gets regular requests for malbec at Bella Italia, and the wines are easy to find for his Texas wine list. Carmenère, another grape with a French pedigree, is Chile's answer to malbec, says Central Market wine specialist Andre Boudreaux, although Chileans might argue that it's the other way around. European carmenère was wiped out by the phylloxera epidemic of the late 19th century, lending added importance to the Chilean vineyards. But while the Europeans used phylloxera-resistant American rootstock to resurrect most of their classic varieties, carmenère was passed over in favor of other grapes. What a contrast these French classics are to Argentina's most widely planted white grape, torrontes. The lineage of this unlikely hybrid was controversial until scientists at the University of California at Davis used DNA analysis in 2003 to unlock its family tree. The aromatic grape with muscat-like characteristics turns out to be a cross between muscat of Alexandria (North Africa) and criolla chica, also known as the mission grape in California. Go figure how those two Old World imports got together.

As hot as South American wines are for the moment, don't expect the great prices to last. Chile lost 12.5 percent of its wine in the earthquake, according to Wines of Chile USA, and once a region is discovered, prices invariably creep up. So enjoy the values while you can. Here are five, partnered with foods that show them off. Kim Pierce is a Dallas freelance writer. Alamos Malbec 2008 with grilled steak

$8.50 to $12.50; widely available

Alamos is the entry-level brand for Bodega Catena Zapata, a venerable estate modernized by Nicolás Catena, Argentina's answer to Robert Mondavi. The meaty red shows smoky, dark red fruit, with tendrils of dried fig and persimmon balanced with nice acid crispness. It can do no wrong with a grilled strip steak. You could also serve it with barbecued ribs, brisket or sausage (not too spicy). Cono Sur Sauvignon Blanc 2009 with Ash Friday Brazos Select cheese

$8 to $11; widely available

Chile's Cono Sur made its reputation with pinot noir, but its sauvignon blanc is a consistent refresher: crisp, citrusy and aromatic, with grapefruit and lime nuance. It's a winner with Ash Friday Brazos Select, a pasteurized cow's-milk cheese made by Brazos Valley Cheese Co. of Waco. It was recommended by Rich Rogers, co-owner of Scardello Artisan Cheese in Oak Lawn. The vegetable ash is sprayed on with a solution of salt water and the white mold found on brie, he says. The acid in the wine, he adds, "pulls the butterfat off the tongue." Crios of Susana Balbo Torrontes 2009 with crab cakes

$15.99; Central Market and Centennial Fine Wine and Spirits

Crios, which means "offspring," is the second label of Susana Balbo, one of Argentina's premier winemakers. The arresting nose of the torrontes dances through banana, cotton candy and a bouquet of florals before landing a sweet kiss that turns pleasantly dry and crisp. It embraces the sweetness of the crab in crab cakes, and we found an exceptional match in those from Sea Breeze Fish Market & Grill in Plano. Casa Cabernet Sauvignon Rapel Valley 2007 with bacon-blue cheese sliders

$10.50 to $14; widely available

Chile's Casa is the entry-level line of Casa Lapostolle, named for founder Alexandra Marnier Lapostolle, the great- granddaughter of the creator of Grand Marnier. This uncomplicated, medium-bodied cab straddles New and Old World styles, offering a fruity raspberry, cranberry and pomegranate nose dashed with vanilla and white pepper. It evolves into a dry and subdued mouthful, anchored by unapologetic tannins. Those tannins are soothed and complemented by bacon-blue cheese sliders with avocado and arugula. But hold the tomatoes: They fight the wine.     Viu Manent Carmenère Reserva 2008 with andouille sausage

$8 to $11; Central Market, Addison Wine & Spirits, Majestic Liquor (Addison)

Chile's Viu Manent, from a family lauded for its successful transition to modern winemaking, has a reputation for producing top-flight value wines, and this carmenère is no exception. It's a meaty, herby red with low-key fruit and high-octane spice reflected in dashes of mocha and Indian garam masala. Even so, you wouldn't expect it to show such amazing presence and backbone next to smoky, aggressively spiced Cajun andouille sausage, but it does. Talk about a great partnership.

By KIM PIERCE / Special Contributor to The Dallas Morning News