Experts expect modest sales growth and grape prices tempering in 2013. Several industry insiders weigh in on what to look for as we make our way towards 2013.
Rob McMillan, founder of Silicon Valley Bank Wine Division:
U.S. wine sales growth next year likely will be modest, but prices on the shelf overall probably won’t increase much, according to Rob McMillan, founder of Silicon Valley Bank’s Premium Wine division and author of an annual spring forecast for the industry. Moderating price growth is the greater availability of lower-priced wines bottled outside California made from imported bulk wine.
Glenn Proctor of Ciatti Company:
The likely large 2012 winegrape crop may bring the hot 2012 bulk-wine and grape market into balance and ease bulk prices by as much as 15 percent from those of this year, after a spike of as much as 20 percent to 40 percent in some cases after the small 2011 crop and early in the 2012 season, according to Glenn Proctor of Ciatti Co.
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