NOVATO, CA -- (MARKET WIRE) -- February 8, 2007 --
WHAT: The California Department of Food and Agriculture's Preliminary Grape
Crush report for 2006 is a critical barometer for the wine and grape
industry, containing prices and tons of wine grapes crushed during the 2006
harvest. Figures reported are highly influential in setting prices for
grapes delivered during the 2007 harvest. The Crush Report gives growers
and wineries insight into the inventory position for the California wine
business as a whole.
WHEN: CDFA is scheduled to release the Grape Crush Report at Noon, Friday, February 9, 2007.
ANALYSIS: The California wine business has suffered 6 years of serious excess capped off by a massive 2005 harvest. We expect that the 2006 harvest will be down significantly from 2005. A smaller harvest, along with strong growth in wine sales, especially for premium wines, should help to move the California wine business out of a protracted and financially painful excess and towards a period of relative shortage. This switch will result in profound changes for growers, wineries and consumers.
WHO: Turrentine Brokerage, California's largest wine grape brokerage firm, is available to provide comment and analysis on this report and its probable impact on growers, wineries and consumers.
Turrentine Brokerage will have its experienced team of grape and wine brokers available all day Friday and over the weekend for comment and questions.
Contact Information: CONTACT: Brian Clements (707) 495-8151 specialty - grapes from all of California, especially Napa, Sonoma, Mendocino & Lake Co. Steve Fredricks (415) 847-0603 specialty - grapes and bulk wine from all of California and around the world Bill Turrentine (415) 999-9490 specialty - grapes and bulk wine from all of California and economic analysis Erica Moyer (209) 988-7334 specialty - grapes from the San Joaquin and Sacramento Valleys and the Central Coast