Wine producers may pay price for strong dollar


	Wine producers may pay price for strong dollar

greg naylor

12-29-2006 7:09 PM

254 views

tags:

wine, grapes, kng valley, employment

greg naylor says:

What else could go wrong? 2006 started with a wine glut. Then the frosts destroyed the season for many growers. The bushfires have threatened the quality of the remaining grapes. King river irrigation is to cease with the new year and now 'Wine producers may pay price for strong dollar'.

That should see an end to the wine glut and a rationalisation of the number of vineyards. But it will also see an end to the employment of many King Valley residents who depend on the vineyards to earn a living.

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The Australian Wine and Brandy Corporation says wine producers will have to bear the brunt of any rise in the value of the Australian dollar.</P><P class="wallacepara">
Rising interest rates have pushed the Australian dollar up against the US currency this year and analysts are predicting it could reach 80 US cents in 2007. </P><P class="wallacepara">
Australian Wine and Brandy Corporation spokesman Sam Tolley says Australian producers will have to absorb the difference.</P><P class="wallacepara">
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