SOUTH AFRICA: Stocks down and sales up for Cape wineries
At the end of 1999 stocks in cellars were at 315.6m litres and since then they have been dropping to 290.5m litres in 2000, 248.4m in 2001 and the estimate for this year is 195,8m litres.
This has probably been caused by among other aspects, smaller crops over the past two years, major increases in exports and a slight increase in domestic sales of natural wine. Domestic brandy sales are also marginally up.
According to figures released by South African Wine Information and Systems, domestic sales of wine are expected to rise by 2.9% to 374.5m litres for 2002. Domestic sales ended at 363.9m at the end of 2001, which in turn was a 2% increase on the previous year.
Earlier this year, South Africa’s biggest wine and brandy company Distell, announced it was importing both wine and brandy spirit to be able to meet its domestic requirements. It is believed one or two other big players were forced to do the same.
South African wine and spirits group Distell has posted a rise in half-year sales and volumes....
South African wine and spirit group Distell has been ordered to honour a contract it cancelled with a local grape farmer, according to reports....
Distell's broad-based black economic empowerment deal will cost about R870m (US$137m), but the new partners will be locked into an eight to 10 year agreement before any dividends are realised....
Distell today announced its broad-based transformation plans between a black economic empowerment group, certain employees and a corporate social investment trust (CSI Trust)....
KWV International has launched the second phase of its assault on the South African market with the introduction of its KWV 3-year-old brandy and Cathedral Cellar and KWV Classic ranges as it expands ...
Distell has appointed Don Gallow as its new director of international operations, in place of Etienne Heyns who left the company two weeks ago. ...
The Brown-Forman Corporation has added the Durbanville Hills range of wines from South Africa to its US portfolio....
Distell's headline earnings have rocketed by 34.5% to ZAR482.2m (US$75.2m) for the year to 30 June, thanks to improved performance from all the company's assets....
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