NZ: Better prospects seen for wine growers
NZ: Better prospects seen for wine growers
Jun 18, 2011 6
The Ministry of Agriculture and Forestry (MAF) sees a more encouraging outlook for the wine industry beyond 2012, as the economies of major markets such as Britain and the US recover.
In its latest Situation and Outlook report, released this week, MAF says the average export price of wine has fallen by almost a quarter in the past three years, due to oversupply and the fall in demand during the global recession.
The income squeeze has led to an increase in wine industry receivership's and mortgagee sales in the past year.
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