It's Getting Late Early
By Steve Fredricks
As Sir Isaac Newton proved in physics, every action has an equal and opposite reaction. While the forces driving supply and demand in the wine industry differ from those in physics, the market actions and responses often reflect the same principle. The current cycle of excess is being met with industry efforts to restore balance.
There are numerous financial, environmental, and emotional barriers to adapt and evolve in response to excess. Despite these barriers, actions are being taken to reduce supply in the long-term by the removal of vineyards in all regions with more removals expected through 2025.
Many buyers remain hesitant, which has led grape and bulk wine sellers to feel an increasing sense of urgency. This hesitancy from buyers, though understandable, can have unintended consequences. For example, some growers need contract assurances to continue investing in the farming practices necessary to produce the quality of grapes needed to satisfy consumers. For buyers, this means that waiting may result in fewer quality options available, so it's important not to assume that quality supply will be available when needed.
- Grape Market 3
- Cabernet Sauvignon 4
- Chardonnay 5
- Pinot Noir 5
- Conclusion 6
- Turrentine on the Road 6
- Crop Contest Results 6
- Market Opportunities 9