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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

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