US: Wine Prices Stay Relatively Low Because Of Sluggish Economy
US: Wine Prices Stay Relatively Low Because Of Sluggish Economy
May 5, 2012 6
(Reuters) - The U.S. economy remains too delicate for Constellation Brands Inc to lead any attempt to raise wine prices, even as a smaller harvest is expected to make grapes more expensive, a senior executive said on Friday.
As a result, the world's largest maker of branded wine, with names like Robert Mondavi and Ravenswood, does not expect to raise prices this year -- unless other producers do so first.
"We're not going to lead the charge," said Constellation Brands Chief Financial Officer Bob Ryder in an interview.
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