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Available in October 2017, the compiled report will be a useful tool for wineries and vineyards in California, Oregon, and Washington to measure their businesses against industry leaders and prepare their strategies for the years ahead.
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Sonoma County continues to be the hottest market, especially for Chardonnay, Pinot Noir and Cabernet Sauvignon, but we are seeing some push back on asking prices. Recent sales of Sonoma Cabernet Sauvignon have been in the mid-$30.00 per gallon range, regardless of vintage. Sonoma County Pinot Noir has been selling in the mid-$20.00 per gallon range for 2016 lots, and 2016 Sonoma County Chardonnay has been moving between $18.00 to $22.00 per gallon. Other markets currently active are Lodi Cabernet Sauvignon, which has been selling between $7.00 to $9.00 per gallon, and Central Coast Chardonnay, where recent deals have been between $13.00 to $16.00 per gallon.
In several other areas of the state, we have noticed stand-offs in price, and neither buyer nor seller seem overly motivated to move supply at this point in the year. This is particularly true for North Coast and Napa Valley Cabernet Sauvignon. Buyer’s offers are lower than sellers asking prices but still relatively strong historically which has somewhat slowed a market that has been strong for some time now.
Overall, there is steady bulk wine and grape demand with market activity coming off of a 4-million-ton harvest which is great news. The grape markets are currently more active than bulk, and many proactive buyers are hedging their purchases at this point in the year. Generally, grape supply is tight right now for several varieties so reach out to your broker early and often to plan an actionable strategy as we continue to move into 2017.
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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]]>