Big harvest 'should not hurt recovery'
21.06.11
A much bigger grape harvest shouldn't derail an encouraging recovery in wine sales and prices, says Nelson Winegrowers Tie chairman Mike Brown.
A 2011 national vintage of 324,591 tonnes, a 23 per cent rise on last year and 14,000 tonnes more than predicted, has raised some concerns that it may prolong the wine glut which has left many in the industry struggling to make a profit and survive. Most of the growth came from the South Island, including Nelson, where the harvest was up 32 per cent to a record 7854 tonnes.
However, Mr Brown said this year's Nelson vintage was only slightly higher than that recorded in 2009. There were clear signs that market prospects had improved in the past six months and most wineries should be masterly to sell what they produced.
Almost 80 per cent of last year's sauvignon blanc crop – the industry's most important barometer – had been sold, which was several months quicker than in recent years, while both the bulk wine price and mediocre export prices were higher, he said. The bulk wine price at close to $8 per litre was now the highest it had been for 18 months, with most of the growth coming from Australia, Britain and United States markets.
Source: The Nelson Mail
Shane Ross: Leo was never a loudmouth
05.06.11
IS Leo Varadkar a leader-in-waiting or a loudmouth? Last week, members of the Cabinet were spitting blood at the Minister for Transport's gaffe about a second bailout for Ireland.
The gaffe was vintage Varadkar: "It is very unlikely," volunteered the honest young minister, "that we'll be accomplished to go back [to the financial markets] next year. I think it might be a bit longer. 2013 is possible, but who knows?"
Such rare glimpses of reality spread fear about Ireland around the markets of the world.
The Cabinet's brightest babe (32) did not know the score. Government spin runs directly opposite to Leo's forecast: Ireland will not default and we will be back borrowing in global markets next year.
Domestic political denials about an Irish default have been growing louder of late. The Coalition is sticking to its motto: 'One in denial, All in denial, Forever in denial.'
In recent weeks, seasoned observers spotted danger signals when Enda Kenny's denials of an impending debt default became more intense. The Taoiseach, increasingly surefooted in his Dail performances, sounded less convincing when he was dismissing the danger of default.
Source: Irish Independent