At almost 50% complete, the 2008 Australian winegrape harvest looks set to deliver between 1.55 and 1.65 million tonnes.
Continuing a turn towards supply/demand balance, the revised figure is up on the pre-harvest estimate of 1.22 million tonnes, largely due to improved water allocations and active water trading in the warm inland districts.
The improved figure will bring some relief to domestic and international market concern over possible supply constraints, but still provides an opportunity to secure firmer pricing. While projected yields per hectare for 2008 are below the long run average, the current assessment represents an upturn on the frost and drought affected 2007 harvest (1.397 million tonnes) and will rank in the top five results on record.
Nationally, the increase in crush compared to last year is the result of an overall increase in yields combined with a marginal increase in bearing area. Red yields are forecast to be up 20-25% on last year while white yields are expected to be similar to 2007.
Jock Osborne, acting CEO of the Australian Wine and Brandy Corporation commented: “The result is a positive one for the Australian wine sector. It should reassure markets of our ability to maintain supply, while at the same time rationalising some of the pressure on supply/demand balance. In addition, but of equal importance, early signs illustrate a promising quality profile to match the improved anticipation in volume.
“Our focus must remain on a successful long-term strategy for water resource management and improved sustainable trading for all in the supply chain.”
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