NZ: Wine about to get more expensive as glut runs out
NZ: Wine about to get more expensive as glut runs out
Dec 12, 2011 6
(NZHerald) - The price of wine is set to rise as the balance between supply and demand tightens, according to a strategic review of the billion-dollar export industry.
The national grape harvest soared to 285,000 tonnes in 2008, creating an oversupply which helped erode grape and land prices, before decreasing to 266,000 tonnes in 2010 and rising again to 328,000 tonnes this year.
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