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

 

Auckland Port To Recapture Gas: Union Calls On Ports To Stop Spewing Methyl Bromide

The Maritime Union of New Zealand welcomes the decision by Ports of Auckland to stop releasing methyl bromide emissions into the air. The move to fully recapture the toxic gas after fumigation sets a new benchmark for industry best practice. More>>

ALSO:

NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

ALSO:

Earlier:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO: