As promised, Silicon Valley Bank made its Annual State of the Wine Industry Report in a live broadcast earlier today. There were several issues touched upon during the conference, including these:
- The general financial condition of the wine industry continues to improve at a slow and steady pace.
- 2012 produced the rarest of events: large yields coincident with outstanding quality across all Western U.S. growing regions.
- Wine businesses expect to increase bottle prices slightly; however, SVB believes that will prove difficult in 2013.
- Mergers and acquisitions of vineyards and wineries will continue at a record pace.
- Massive bulk imports will continue to dominate the lowest price point wine categories.
- Direct-to-consumer sales will continue as the largest growth channel for most wineries.
The full report is available via its website. [Silicon Valley Bank]
Parallel to the above news, The San Jose Mercury News reports that old Sonoma’s vineyards in danger of disappearing. While the headline is a bit misleading in its fear baiting (it’s not that bad), the article goes on to profile a few vintages and discuss the challenges that potentially could lie ahead for the region. [San Jose Mercury News]
Drink Spirits took the time out to head to Lawrenceburg, Kentucky to do a video interview with one of the legends of the bourbon business, Wild Turkey’s Jimmy Russell. Definitely worth opening a bottle of Russell’s Reserve and listening to one of the greats speak for 20 minutes on a variety of subjects. [Drink Spirits]
The Spirits Business chimes in with its predictions for the top trends in spirits for the remainder of 2013. Some of the brands predicted to by hits will not be so surprising, others may make you do a double take and do some reconsidering. [The Spirits Business]
Utah’s state alcohol control board forbids the creation of any beer higher than 3.2% abv. So it is with tongue firmly planted in cheek that the brewers of Unsacred Beer introduce a new line of low-alcohol beers later this month: Priesthood Pale Ale, The Vision Lager, and Unfaithful IPA. Good Lord, indeed. [Salt Lake Tribune]