Perry: Profits Expected For Cherry, Wine Industries
As we start the second half of our Northwest Farm Credit Services quarterly commodity snapshot series, we turn our attention to the wine and cherry industries. Bill Perry, Vice President at NWFCS said they expect slightly profitable returns for the local cherry industry.
“Removal of underperforming and disease-affected acres should limit risk of oversupply. Pricing should be strong if quality improves over last year and demand remains strong. Consumer inflation and rising input costs present industry headwinds.”
Meanwhile, Perry says their 12-month outlook anticipates profits for vineyards and slight profits for wineries.
“Although crop size is below historical averages, low inventories and strong demand are driving up grape prices. Consumers continue to show a willingness to purchase higher-priced wines; however, consumption remains flat, and rising input costs and supply shortages will limit returns,” Perry noted.
Join us Friday as we turn our attention to the fishery, nursery and forestry industries.
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