Graduate cherished last sweet wine (6)

I believe the answer is:

barolo

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'wine' is the definition.
(I've seen this before)

'graduate cherished last sweet' is the wordplay.
'graduate' becomes 'BA' (someone with a Bachelor of Arts degree).
'cherished last sweet' becomes 'rolo' (I can't explain this - if you can you should give a lot more credence to this answer).
'ba'+'rolo'='BAROLO'

Can you help me to learn more?

(Another definition for barolo that I've seen is " Wine".)

I've seen this clue in The Independent.

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