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

 


How Much is Too Much Wine?

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. 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 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 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
- 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 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. For more information please visit their website at http://www.rewined.co.nz .

Ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news