New Zealand: 2012 Wine and Vineyard Report

The New Zealand Grape Crop will be reduced by at least 28,000tons and at this stage is expected to be 300,000tons for harvest 2012. Consequently wine production will be reduced to an estimated 216 million liters which will help bring the supply and demand equation into balance at better average prices both for grapes and wine. Small Wineries and vineyard owners are still struggling financially and will continue to be under pressure for at least the next twelve months. Excise tax on wine sold domestically has been raised by NZD0.12/liter to NZD2.72/liter.