Perry: Wine Grapes Look Solid, Cherries Had A Rougher Year
As we conclude our six-part Northwest Farm Credit Services’ quarterly commodity snapshot series, we look at area wine and cherry industries. Bill Perry, Vice President at NWFCS said their 12-month outlook suggests profits for both vineyards and wineries.
“Wine grapes are healthier than previously expected, but two weeks behind maturity. In response, growers will delay harvest with potential risk if cold weather arrives early. Rising sales values have offset declining volumes. Early signs indicate persistently high inflation may begin to impact consumer behavior. Input costs remain elevated and packing material shortages have started to ease."
When it comes to the Northwest cherry industry, Perry says their 12-month outlook favors slightly profitable conditions.
“Challenging weather conditions led to a very small crop, with weather more significantly impacting early season varieties. Crop insurance will help to offset weather-related losses," Perry added. "Stronger than expected consumer demand is supporting prices, but higher operating costs will pressure margins for many growers.”
For previous commodities, search Commodity Snapshot.
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