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|Tons Crushed 2016||Tons Crushed 2015||Net Gain/Loss||Equivalent Gallons||% Change||2016 % to 5Y Avg|
The 2016 wine grape crop came in at a whopping 4.0 million tons, well above 2015 by 295,000 tons. Although this increase was welcomed by both wineries and growers, it was not enough to curb demand for most varieties in the Coastal areas of California and had a stabilizing effect on pricing in areas of the Central Valley.” -Brian Clements, Vice President/Partner
“Crushed it, California style. The North Coast and Central Coast rebounded after a disastrous 2015 crush. Lodi and the Delta experienced an increase of total tons crushed over the 5-year average of 16%, largely due to new acres coming into production of Cabernet Sauvignon and Pinot Noir. Whereas in the Central and Southern San Joaquin Valley tonnage was down due to the removal of acres, the long-term effects of drought, and the excessive heat in July. Yields were just not there.” -Erica Moyer, Grape Broker/Partner
“Despite a 19% increase in Napa Cabernet Sauvignon tonnage in 2016 the average price increased for a fifth consecutive year to a record price of $6,943 per ton. So far in 2017, the demand for Napa Cabernet grapes remains manic and continues to frustrate buyers.” -Mike Needham, North Coast Grape Broker
“Although the 2016 harvest was a return to long-term averages for most varieties in the North Coast, it was not enough to quench the thirst of wineries and the 2017 market remains active for most wine grape varieties.” -Mike Needham, North Coast Grape Broker
“In Lake County, the tons crushed for Cabernet Sauvignon increased 7% and average price increased 9% to $2,331 per ton, and there have been some new acres planted that might add to the tons crushed in 2017 and beyond. Activity for 2017 grapes remains strong.” -Mike Needham, North Coast Grape Broker
“Despite the larger 2015 and 2016 crop, demand far outpaces supply for Sonoma County Cabernet Sauvignon bulk wine.” -Marc Cuneo, Bulk Wine Broker/Partner
“The 2016 District 8 average price per ton for the major varieties: Cabernet Sauvignon, Pinot Noir, Chardonnay, and Merlot all increased in 2016, which is no surprise based on the demand we experienced coming off of a very light 2015. The total value of the Central Coast crop increased for the 2nd year in a row and increased 43% over the previous year.” -Audra Cooper, Central Coast Grape Broker/Partner
“Yields and producing acreage for Cabernet Sauvignon in the Central Coast increased in 2016 compared to 2015. The increase of 45,950 tons over 2015 helped to stabilize the market and offset the production decline in older plantings.” –Audra Cooper, Central Coast Grape Broker/Partner
“The increased tons crushed has resulted in more gallons of Paso Robles Cabernet Sauvignon wine offered for sale in bulk. Demand remains steady, but with more choice buyers quality standards have increased.” -William Goebel, Bulk Wine Broker
“The District 8 average price per ton for Cabernet Sauvignon grapes increased to $1,463 despite production nearly doubling to 64,496 tons.” – Audra Cooper, Central Coast Grape Broker/Partner
“An increase of Pinot Noir from the Central Coast of 68% over 2015 was still not enough to satisfy demand in the Central Coast.” -Audra Cooper, Central Coast Grape Broker/Partner
“Due to new acres coming into production, Lodi crushed the largest amount of Cabernet Sauvignon in history, 165,666 tons, an increase of 23% over 2015. Zinfandel saw an increase of 23% over 2015. Prices in the region experienced an increase of 1% to 2% as available supply tightens for everything but Zinfandel.” -Erica Moyer, Grape Broker/Partner
“Yields dropped 5% in the Southern San Joaquin Valley, and though prices bumped up slightly, vineyards are still being removed, as growers seek alternative crops.” Erica Moyer, Grape Broker/Partner]]>
Alison Crowe posted on her blog a wonderful Unified recap, click here to read.
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Pinot Noir 2015 wine, California, 13,000 gallons at $7.25 per gallon
Viognier 2015 wine, California, 5,800 gallons at $6.50 per gallon
Merlot 2014 wine, Napa Valley, 3,000 gallons at $22.00 per gallon
Merlot 2014 wine, Mendocino County, 5,800 gallons at $7.50 per gallon
Chardonnay 2015 wine, Lodi, 6,500 gallons at $6.00 per gallon
Cabernet Sauvignon 2015 wine, Paso Robles, 10,000 gallons at $20.00 per gallon
Merlot 2015 wine, Dry Creek Valley, 3,100 gallons at $17.00 per gallon
French Colombard 2015 wine, California, 26,000 gallons at $3.15 per gallon
Cabernet Sauvignon 2016 grapes, Alexander Valley, 10 tons at $4,000.00 per ton
Merlot 2016 grapes, Sonoma Valley, 12 tons at $1,800.00 per ton
Syrah 2016 grapes, Paso Robles, 22 tons at $1,200.00 per ton]]>
As harvest gets under way bulk demand remains consistent for quality wines, primarily 2015 Cabernet Sauvignon and Pinot Noir. In the last few months Buyers have turned their focus from 2015 and 2014 wines to contracts for 2016 and beyond. Recent sales of 2015 Cabernet Sauvignon have been in the $6.50 to $8 per gallon range. Recent sales of 2015 Interior Pinot Noir lots have been in the $7 to $8.50 per gallon range.
Interior Chardonnay demand is moderate, which is an improvement and supply actively for sale is moderate.
Sellers would like to clear out tanks of the remaining gallons of older vintage Merlot, Zinfandel, or older style blenders, but those wines are competing directly with newer available gallons of Petite Sirah and Petit Verdot, which are preferred for adding color and intensity to a blend. There continues to be very little bulk demand for dry red or dry white programs at the super value bottle price point.
We have seen the usual Summer slowdown in the bulk market in the last few weeks due to vacations, wine makers preparing for harvest, and we are also seeing a slow down in the market due to higher asking prices. In Napa Valley, supply of 2014 and 2015 wines continue to become available and asking prices continue to escalate. As they have escalated more buyers hold off purchases. Recent sales of 2014 Napa Valley Cabernet Sauvignon wines have been in the $40 per gallon range and reserve quality or sub appellation have been in the $55 to $65 per gallon range. There are very few gallons of Sonoma County Cabernet Sauvignon available and demand continues to exceed supply. Recent sales have been in the $25 to $30 per gallon range.
Lake County and Mendocino County Cabernet Sauvignon volume actively for sale is down and recent sales are consistently in the $18 to $20 per gallon range. Demand for dark red blenders in the North Coast has slowed as a result of blends being completed and bottled and wineries focusing on harvest. In summary, buyers of North Coast wines have seemed to slow purchases or increased the search for wines from other regions due to higher asking prices.
Pinot Noir in Sonoma County continues to sell quickly when available and priced right. Asking prices have increased, but buyers remain conservative in chasing Pinot Noir at a high price vs. Napa Valley Cabernet Sauvignon. Supply remains limited.
Activity remains steady in the Central Coast for 2015 and 2014 bulk red wines, but continues to be slower for the whites. Cabernet Sauvignon continues to be a focus for most buyers, but limited availability and asking prices above $20 per gallon continue to hold the market back. Buyers are also actively sourcing Cabernet Sauvignon in other regions and have increased their focus to contracts for 2016 wines. Merlot demand remains soft for varietal programs and buyers interest has been directed toward darker red varieties from the Central Coast and Northern Interior such as Petite Sirah, Petit Verdot and Malbec. Some good Merlot opportunities are available.
We have moved Central Coast 2015 Chardonnay in the last few weeks for deals priced below $10 per gallon.
In a change from a few months ago there are some good opportunities for 2015 and 2014 Central Coast Pinot Noir.
After coming off large back to back crops, Oregon has continued to have excess 2015 Pinot Noir and Pinot Grigio. With limited tank space available, many wineries are motivated to move their additional wines before the 2016 harvest begins. Due to these factors, an opportunistic winery outside of Oregon could take advantage of the market conditions. Truckload volumes of Willamette Pinot Noir have moved in the $12 to $15 per gallon range.
We have some Washington clients offering contracts on 2016 Cabernet Sauvignon, Merlot and Syrah with the ability to increase volumes in 2017.
The markets are dynamic and every client has a different need, so please call and talk to your Turrentine Broker to get an update on the dynamics that are most important to you. With our broad base of understanding and experience in the market, Turrentine Brokerage will come up with creative ways to help you, even in challenging markets.]]>