New Zealand heading for shortage in 2012
New Zealand heading for shortage in 2012
Feb 27, 2012 6
(Decanter) - New Zealand expects a small 2012 vintage, which is likely to put the brakes on its decade-long growth spurt. The industry is predicting crops could be as much as 30% lower compared to 2011's 328,000 tonne harvest.
A lighter crop could lead to a grape shortage, which marks a massive turnaround for an industry that has been burdened by oversupply since 2008.
Stuart Smith, chair of industry body, New Zealand Winegrowers, told decanter.com: 'I expect that the vintage will be around 300,000 tonnes. However, even if we had a 328,000 tonne harvest like last year, we would still be short by about 10%. We now have very low stocks on hand and export sales are growing at a good rate.'
Comments