Perry: Mixed Results Expected For Local Cherry Growers, Wineries In 2020
As we continue our look at Northwest Farm Credit Services quarterly commodity snapshot, we turn our attention to cherries and the wine industry. Bill Perry, Vice President at Northwest Farm Credit Services said they anticipate slight profits for both vineyards and wineries this year, although it’s a mixed bag for both.
“Lower grape yields and bulk wine supplies should support improved grape markets, but fundamental oversupply issues remain. Some wineries in the retail and direct to consumer channels are having record sales; however, wineries reliant on tasting rooms, events or other in-person sales are left with limited options to generate revenue.”
Perry added the Northwest Farm Credit Services’ 12-month outlook anticipates profitable margins for cherry growers.
“Reduced supply coupled with strong domestic demand helped sustain high pricing, which will translate into strong margins for growers. However, those with measurable losses in tonnage may not have had enough fruit to capture returns and will be reliant on crop insurance.
Join us Wednesday as our commodity snapshot turns to apples and pears.
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