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.



© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news