Wine grape supply shrinking statewide
September 20, 2011
California wine grape growers will be facing a significant tightening of the supply of their product over the next several years because of two factors, the sluggish economy and unusually cool weather, according to industry professionals. [SacramentoBee]
Robert Smiley, dean and professor emeritus at the University of California, Davis, Graduate School of Management, will discuss his findings Tuesday at the 20th annual Wine Industry Financial Symposium in Napa.
“Even though we have technically been out of the recession for two years, growers have been reluctant to expand their plantings or replace older vineyards that are moving into declining production,” Smiley told the Sacramento Bee.
Even so, industry professionals expect that high-quality wines will continue to be discounted and widely available.
“Most of the (wine) executives seem to feel that discounting is here to stay,” Smiley told reporters.