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March 2005
Australia: Cautiously Optimistic
While some may assume that Australia's oversupply would turn suppliers pessimistic, quite the opposite is true.
by Joseph W. Ciatti Co.
The explosive positive sales gains of the Australian wine industry have given way to a feeling of cautious optimism. While exports still remain essentially strong, especially to the North American market, a growing oversupply of bulk wine tempers the exuberance. Adding to the Aussie market dynamics, industry giant Beringer Blass is in the midst of a corporate takeover of rival Southcorp. The new company's inventory strategy will affect the bulk market in the near future. A small 2003 harvest hel...
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