US: Sourcing Winegrapes in a Shortage
US: Sourcing Winegrapes in a Shortage
Feb 24, 2012 6
(Wines&Vines) - “A monumental change in supply occurred in January 2011,” Joe Ciatti said at a Wine Industry Financial Roundtable sponsored by CPA firm Moss Adams in Napa on Thursday. “An excess of grapes became a shortage.” Ciatti, a well-known broker with Zepponi and Co., emphasized that the change is not due to short crops, as many believe: The past three years’ harvests were historically large, although decreasing by year. He noted that the 2011 winegrape harvest of 3.3 million tons was actually above average, even though it was less than the 3.7 million tons harvested in 2009 and the 3.6 million tons of grapes from 2010.
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