NOVATO, CA--(Marketwire - February 9, 2011) -
WHAT:
The California Department of Food and Agriculture's Preliminary Grape Crush Report for 2010 is a critical barometer for the wine and grape industry, containing prices and tons of wine grapes crushed during the 2010 harvest. The Crush Report provides growers and wineries insight into the inventory position for the California wine business as a whole and influences market dynamics for the current bulk wine market and the upcoming 2011 harvest.
WHEN:
CDFA is scheduled to release the Grape Crush Report at Noon on Thursday, February 10, 2011.
ANALYSIS:
The Crush Report is likely to show that the 2010 California wine grape crop is down sharply from 2009, which was the second largest in California history. More specifically, the 2010 harvest saw a return to average crop size in the San Joaquin Valley, a below average crop in the North Coast region, and an above average crop in the Central Coast area. Overall, the quality of 2010 California wine ranges from good to very good. The growing season was especially challenging in 2010, with relatively cool weather, interrupted by one intense heat spike, and then heavy rains as harvest approached. Although tough on growers, the lower crop levels are welcome news to wineries at the luxury end of the wine business as they continue to balance inventories, while wineries marketing value-priced brands would have liked to see a larger crop to continue to fuel the success of wines retailing under $10 per bottle.
WHO:
Turrentine Brokerage, California's largest winegrape brokerage company and trusted and strategic advisors to wineries, growers and financiers, 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 and analysts available all day Wednesday and through the week for comment and questions.
Contact Information:
CONTACT:
Brian Clements
Vice President / Partner
(707) 495-8151
specialty - grapes from all of California, especially Napa, Sonoma, Mendocino and Lake Counties
Steve Fredricks
President / Partner
(415) 847-0603
specialty - grapes and bulk wine from all of California and around the world
Bill Turrentine
Chairman / Partner
(415) 209-9463
specialty - grapes and bulk wine from all of California and economic analysis
Erica Moyer
Broker / Partner
(209) 988-7334
specialty - grapes from the San Joaquin and Sacramento Valleys and the Central Coast
Matt Turrentine
Grape Broker
(805) 312-1828
specialty - grapes from the Central Coast