Farmers will probably produce 1.42 million metric tons this season compared with 1.49 million tons harvested in 2013, according to data from the U.S. Department of Agriculture's Foreign Agricultural Service. South Africa may bottle about 1.1 billion liters (2.42 million gallons) of wine in 2014, less than the 1.2 billion liters packaged a year earlier.
As the world's eighth largest wine producer, South Africa's wine trade contributed 26.2 billion rand ($2.4 billion) to the country's economy with exports increasing by more than a quarter in 2013, according to the South African Wine Industry Information and Systems.
With Nelson Mandela's blessing, the Mandela women set forth on an effort to share the family's rich heritage and historic legacy through the distinctive medium of fine wines. Their mission was to create wines that embrace the energy and soul of South Africa while encouraging the spirit of unity, family and tradition that Nelson Mandela wholeheartedly stood for.
South Africa will increasingly target the entire domestic market of Africa along with the US as trading conditions become ever more challenging in mature export markets such as the UK, according to the new head of Wines of South Africa (WOSA).
That said, there was evidence of some shareholder engagement at both meetings. At the Distell meeting "only" 67.6 percent of shareholders voted in support of the resolution placing 10 percent of the unissued shares under the control of the directors.
Online wine retailers and rating platforms may also be banned, Melvyn Freeman, head of non-communicable diseases for the country's Department of Health, said, according to the Johannesburg-based newspaper.
Held on Sept. 6 and 7 at the estate in Paarl, northeast of Cape Town, the auction offered 132 wines, including 72 red, 36 white and eight dessert varieties, the auctioneer said in a statement on its website today. The average price per liter climbed 92 percent to 354.64 rand ($35) from a year earlier, it said.
Tim Hamilton Russell, an advertising executive who founded the first winery in Hemel-en-Aarde Valley near Cape Town, died July 17 in Hermanus, South Africa, after a long battle with Parkinson's disease. He was 79.
Yangzhou-based Perfect China has made the Asian country's first investment in South Africa's wine industry, acquiring the Val de Vie estate in the Western Cape in a deal expected to boost exports of South African wine to the Far East.