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August 2000
The Wine Industry Braces for Lower Wine Prices as a Huge 2000 Crop Develops
We Think the Gut Reaction May Be Wrong
by David Goldman
The cat is out of the bag. Those attending the recent Vineyard Economics Seminar in Napa, California, were told that the 2000 harvest is shaping up to be the biggest on record, up perhaps 20 percent form last year's 2.6 million tons of wine grapes. The media, never lax at seizing captivating headlines, pointed to the 20 percent year-over-year increase as evidence that the next (figurative) ice age is just around the corner.The last warning of over-planting and a likely grape glut was about two y...
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