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Grape glut crushes grower profits
27 Apr 2005
This season's wine-grape harvest is all but complete, with this year's crush expected to come in at 1.96 million tonnes, or 2 per cent more than the record crush in 2004, and 7 per cent more than the earlier forecasts by the Australian Wine & Brandy Corporation. The glut, combined with the strong Australian dollar, and consolidation of Fosters and Southcorp (as the two major buyers) is expected to make it more difficult to export excess wine, resulting in price deflation and margin erosion for most Australian producers.
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