As we continue with this week’s Northwest Farm Credit Services’ 2018 commodity snapshot, we turn our eyes to cherries and wine. In the vineyard, NWFCS Vice President Karen Witt predicts Northwest vineyards and wineries will see profitable returns.
“Growing conditions were favorable this year and large crops are expected. Wine sales growth is positive, although low compared to prior years. Some regions and varieties could be facing oversupply due to larger crops and lower wine sales.”
When turning over to cherries, Witt said the anticipation is growers should break-even or perhaps enjoy slightly profitable margins, depending on harvest timing.
“After last year’s record crop, the smaller supplies were welcomed by growers. Good quality and strong consumer demand resulted in optimism for strong returns. However, tariffs complicated export markets and sales desks delayed finalizing pricing. As returns to growers are being finalized, many are below expectations.”
Join us Thursday as we continue our snapshot of area commodities and look at area tree fruit.
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