SOUTH AFRICAN WINE SET TO SLUMP
Wine exports from South Africa, the world's eighth largest wine producer, are set to dip by 5% in 2006 after 12 years of uninterrupted growth.
"After an impressive growth trajectory that saw volumes rise from 22 million liters in 1992 to 282 million liters in 2005, a drop of about five % on last year is being anticipated," said a statement issued last week by Wines of South Africa (WOSA) and the South African Wine Industry Information and Systems (SAWIS).
WOSA chief executive officer Su Birch blames the slump on the international grape glut, along with high bottling costs. According to Su, there was a 9% drop in sales of packaged wine, but a 3.6 % rise in bulk wine exports.
"After an impressive growth trajectory that saw volumes rise from 22 million liters in 1992 to 282 million liters in 2005, a drop of about five % on last year is being anticipated," said a statement issued last week by Wines of South Africa (WOSA) and the South African Wine Industry Information and Systems (SAWIS).
WOSA chief executive officer Su Birch blames the slump on the international grape glut, along with high bottling costs. According to Su, there was a 9% drop in sales of packaged wine, but a 3.6 % rise in bulk wine exports.
posted at 1:32 PM
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