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White wine grapes headed for oversupply
25 Jan 2005
Wine producers expect to buy 10 per cent more grapes from wine grape growers in 2005, but growers cannot expect much improvement in price, the Australian Bureau of Agricultural and Resource Economics has forecast. The 2004 wine grape crop produced 1.9 million tonnes, and ABARE expect further price pressure in the coming harvest. In a report that includes projections to 2007, ABARE says that by then winery demand for grapes would be closer to production, providing the basis for firmer prices. ABARE estimate that wineries will increase their demand by 10 per cent from 1.77 million tonnes in 2005 to 1.95 million tonnes in 2007. Chardonnay production is projected to rise by 15 per cent to 423,000 tonnes, with total white wine grape production increasing by 10 per cent to 724,000 by 2007. Riesling and colombard production also was expected to grow strongly. ABARE expects slower growth for premium red wine grape production.
The Advertiser, 25/01/05
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