Australia has been cursed with good grape crops for several years. The bumper crops have resulted in a glut on the market and overproduction of wine, which is depressing prices.
Now, a simple solution may be in the offing: a 7% reduction from the 2005 harvest if enough grapes are left to wither on the vine, according to the Australian Wine and Brandy Corp.
Lawrie Stanford, the corporation's information and analysis manager, told News.com.au, "The expected average yields would be viewed with some relief by many winemakers holding excess wine in stock. This will allow wine reserves to be reduced to more reasonable levels while the good quality grapes from the 2006 harvest will enhance Australia's competitiveness in vital overseas markets."
About 20 per cent of the 2006 harvest had been picked, predominantly white grapes and a small amount of red grapes.
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