NZ wines to hold value despite lower harvest

The Rabobank Global Wine Quarterly report says New Zealand wine growers expect the wine grape harvest will be 326,000 tonnes, down 27 per cent on last year’s record tonnage. One of the report’s authors, senior analyst Marc Soccio, said the country’s production levels had not been this low for some time, and that was part of the reason the growth in export value was outpacing the growth in volume. “Global demand isn’t necessarily growing particularly strongly, but what we are seeing is where there is growth it tends to be at higher price points.”