Rabobank Wine Quarterly Q4: Challenges for global industry
Rabobank Wine Quarterly Q4: Challenges remain for global industry
• New Zealand harvest yet to commence, but favourable growing conditions indicate positive signs for the coming vintage.
• New Zealand wine exports are firmly back in growth given the higher supply available from the record 2013 vintage, and the share of bulk wine in the ‘product mix’ is rising.
• Australian harvest underway, expectations of a slightly smaller crop, with the recent severe heatwave potentially impacting yields.
• Australian wine exports fell by 5.9 per cent in volume and five per cent in value in the 10 months to October 2013.
• Currency forecasts: New Zealand is expected to raise interest rates, supporting the New Zealand dollar against the US dollar. By contrast the Australian dollar is expected to weigh against the US dollar as global commodity prices soften and US tapering sets in.
The full report is available here.