Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


400,000 Tonnes: How Much Is Too Much Wine?

400,000 Tonnes: How Much Is Too Much Wine?

In 2014 the New Zealand wine industry expects harvest to surpass 400,000 tonnes. At this volume are we looking at a repeat of the 2008 “sauvalache?”
Rewined examines the differences in supply and demand, and suggests that both consumers and the industry stand to benefit this time around.

Auckland, 5th May 2014 – In the final weeks of the 2014 grape harvest, “the general feeling seems to be a second year of exceptional quality,” Shannon Lawrence, Operations Manager for Rewined says, harvest volumes have also increased over 7% on an already large harvest last year, leaving commentators to suggest we may be heading for another supply surplus.

“The last surplus started in 2008, when yields were 20- to 30- percent above estimate.” Lawrence recalls, ”everyone was fighting for tank space. There was just so much fruit and nowhere for it go.”

This glut, coupled with a declining global economic climate caused a supply/demand imbalance which had significant ramifications for the industry in the following four years.

While volumes are currently at record levels Lawrence suggests, “It doesn’t feel the same as last time. The quality is fantastic, the economy is more optimistic and other Southern Hemisphere wine producing countries haven’t had the same great growing conditions.”

She goes on, “there’s renewed optimism in the industry, and it seems we have learned a few things from recent years about the importance of aligning new vineyard plantings to demand and generally focusing on being market-led.”

Reasons for a more positive outlook in 2014:
• Exceptional growing conditions in both the 2013 and 2014 vintages, with high quality wines produced across much of the country.
• Lower volumes in Southern Hemisphere wine producing countries, including; Australia, South Africa and Chile, means supply shortage into key New Zealand markets.
• Strong demand in key export markets, particularly the United States and China, with exports forecast to exceed $1.3billion by the June year end.

Lawrence also states, “The last two vintages are also great for consumers; there are some really great wines around, and while prices are slowly rising, they are getting much better quality for money.”

About Rewined
Rewined is the online-only wine shop making the wine buying process easy and approachable, by getting away from the “supermarket” style pages of unheard of labels and complicated, technical jargon. With a portfolio of mid to premium wines customers have confidence have the right bottle for every occasion, budget and taste.

The company was established in 2013 and is part of the Windhaven Investments portfolio.

Visit www.rewined.co.nz

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news