California Industry Predictions

In today's Hoover Online, the article, California Wine Grape Oversupply Continues; End Appears in Sight reports themes from the Wine Industry Financial Symposium, which starts today in Napa.

..wineries, distributors and retailers shows optimism that oversupply problems will be resolved in two to three years...The industry is optimistic about popularity the growth of syrah, pinot noir and cabernet sauvignon among red varietals, and sauvignon blanc and pinot grigio among whites.

However, California wines will be challenged by other countries' marketing.

California wines account for 56 percent of the national market today, but retailers expect that to shrink to 44 percent over the next four years...Imports from countries like Australia and Chile are expected to make the inroads.