Wine about to get more expensive as glut runs out (NZ)

Wine about to get more expensive as glut runs out (NZ)

The price of wine is set to rise as the balance between supply and demand tightens, according to a strategic review of the billion-dollar export industry. The New Zealand Herald reports the national grape harvest soared to 285,000 tonnes in 2008, creating an oversupply which helped erode grape and land prices, before decreasing to 266,000 tonnes in 2010 and rising again to 328,000 tonnes this year.

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