Wine glut feared in NZ after baking summer

12th March, 2013 by Lucy Shaw

Fears have been sparked in New Zealand of a wine glut after one of the driest summers on record has led to outstanding grape-growing conditions across the country.

The 2013 vintage is expected to be considerably bigger than the 269,000-tonne harvest in 2012.

Down 18% on 2011, the 2012 crop helped to rebalance supply and demand within the New Zealand wine industry.

New Zealand is not a stranger to overproduction – a bumper crop in 2008 resulted in a 27-million-litre glut that slashed wine, land and grape prices.

The overproduction also led to an increase in exports of cheaper bulk wine shipped in giant plastic bladders to New Zealand’s key export markets – a practice that jars with the country’s successful premium wine image.

Paul Munro, a partner at….

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