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Global Wine: Grape Oversupply the Pressing Issue
Bromsgrove, UK (PRWeb) March 14, 2007 -- The latest management briefing from www.just-drinks.com has underlined the challenges faced by the wine industry as the global oversupply of grapes continues.
In Australia, the 2006 harvest was huge and some 60,000 tonnes of grapes were left to rot. Peter Bailey, senior analyst at AWBC commented "the surplus stock prior to this year's harvest was 500-900m litres. To put this into perspective, total Australian wine sales in the 12 months to April 2006 were just over 1.1bn litres."
The current problems are a product of the "plant anything anywhere" approach that led to the widespread creation of new vineyards. This situation will certainly have to be handled carefully if a recovery is to be made. The effects of over planting are also evident in South Africa. Here, Shiraz and Merlot are fighting the glut of poorer quality grapes whilst huge stocks of Cabernet Sauvignon have pushed prices into freefall.
The picture is even worse in Europe. French wine has lost market share at home and internationally. Growers have even rioted in Languedoc as they protest against historically low prices.
Champagne's sparkling performance…
However, the Champagne market could not be more different. Demand and revenues have grown spectacularly and the prospects look extremely bright. The value of export shipments are expected to increase by more than 9% in the next two years alone! With this in mind, producers are looking to increase yields and the size of the appellation.
Rum resurgent…
Rum is also experiencing a renaissance. Much of the category's growth has been attributable to the premium aged rums segment which has eroded the market share of Scotch and Cognac. Standard "international" rums are also booming, buoyed by their extremely positive image and compatibility with a wide range of mixers. Despite this, the global rum market appears under-developed and Bacardi's recent gains hint at the considerable potential still to be exploited.
The briefing is one of over 50 available free to www.just-drinks.com members. Monthly briefings published in the last year have reviewed the outlook for 2007, China, sponsorship, UK wine consumption by young adults, India, Champagne, key global trends, the industry's structure, EU legislation, European purchasing trends, global alcoholic drinks producers, the Middle East and North Africa. Members also benefit from having unrestricted access to as many as 20 stories, articles and features a day and can choose to receive personalised alerts and newsfeeds. Further details on the latest briefing are available at www.just-drinks.com/briefings/ whilst details of just-drinks membership can be viewed at www.just-drinks.com/offer.aspx.
Notes:
1. About the briefing
The just-drinks 'Sector research review' examines grape supply and wine production in the southern and northern hemispheres, focusing on the key national markets. Forecasted Australian wine grape prices by varietal are provided to 2010 alongside South African availability forecasts by varietal. The global Champagne and rum markets are also discussed in detail.
2. About just-drinks
Since 2001, www.just-drinks.com has provided daily news and analysis on the global beverage industry. Today, just-drinks is the authoritative and timely source of business information and is the industry's leading online resource.
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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