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June 2004
Recent Optimism Extends to Banks
Lenders Sense Wine Industry Upturn in the Making
by Cyril Penn
As results of a survey presented during last month's Vineyard Economics Seminar in Napa confirmed, there is more optimism about the wine industry's business prospects in 2004 than there was in 2003. Presumed vineyard values were considerably higher in 2004 than they were in 2003 in the survey, with surprising jumps in Napa and Sonoma counties. The survey also showed that 2003 was the weakest point in the business cycle in terms of the issuance of long-term grape supply contracts. When asked what...
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