NZ: Kiwi's flight weighs on wine
NZ: Kiwi's flight weighs on wine
Aug 22, 2011 6
The wine industry is no longer in surplus thanks to growing exports, but the turnaround is being kneecapped by currency swings, New Zealand Winegrowers says.
The pan-industry group will hold its annual gathering in Auckland this week, where the theme is profitability.
Focus has swung in one short year from keeping volumes down to the prospect of a shortage of white wine.
At harvest this year, grape growers were urged to try to keep grapes down to last year's levels, a target they failed to achieve. Even so the industry greatly increased wine sales, soaking up the glut that started in 2008.
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