AUSTRALIA: Australian Bureau predicts no grape glut
The Australian Bureau of Agriculture and Resource Economics (ABARE) is playing down the threat of a red wine grape glut in the country, according to The Herald and Weekly Times. A surge in production, the Bureau says, will be absorbed by a demand from wineries. However, many industry analysts are reported to still be concerned and fear that red grape growers could be hit hard. Figures from ABARE show that wine grape production is set to jump nearly 30% in the next three years to reach 1.47m tonnes by 2002-2003.
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