U.S. wine prices headed higher for consumers-report
U.S. wine prices headed higher for consumers-report
Apr 17, 2012 6
(Reuters) - U.S. consumers are going to be faced with a choice this year: pay more for a bottle of domestic wine, settle for lower quality, or buy cheaper imports, the Silicon Valley Bank forecast on Tuesday.
SVB, a commercial banker to the wine industry, said in its latest "Annual State of the Wine Industry Report" that it expects vintners to raise prices as the supply of grapes declines and evolves "into a state of shortage that will last for some time domestically."
"We hope you stocked up on a few cases because reality is knocking at your cellar door ... inventories are now starting to run to the short end of the scale, and bottle prices will start to increase in 2012," the report said.
Comments