Wine glut nearing an end: analysts
Wine glut nearing an end: analysts
Oct 9, 2012 6
(ABC) - A new report on the international wine market gives grape growers and wine makers signs of hope that the global glut may be ending.
Rabobank's latest wine quarterly for the three months to October says a massive global oversupply of wine between 2004-10, that depressed prices and led many growers to rip up vines, looks like coming to an end.
The bank says global wine grape production has declined dramatically since large global harvests between 2004-06, and demand has also recovered somewhat since slumping during the peak of the global financial crisis.
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