New Zeeland: bigger volumes, lower prices

The latest statistics show that New Zealand is producing more wine but getting less money for it. That is perhaps a confirmation of the fear that new plantings risk leading to an over-production and a glut of wine. Total production for the recently finished 2011 harvest was 310,000 tonnes, an increase with 15% and a new record. (That would be around 2 million hl of wine.) But prices are falling: in 2010 1.56 M hl was exported to a value of 550M euro. the average price was NZ$ 6,90 per litre (around 3.78€) which is a price decrease with 12%. Can we expect further falls in the prices following the big harvest? More info Vistisphere.com