AUSTRALIA: Grape glut forces red prices down
First bottom line proof of the much predicted over-supply in Australian wine production has emerged in the weeks immediately before the 2002 vintage, with predictions of red grape prices 15% down. BRL Hardy, Southcorp, Simeon Wines and Cranswick Estate forecast a fall in prices of between 10 and 15% for major varieties Cabernet Sauvignon, Shiraz and Merlot from the Riverland region along the River Murray.
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