For today’s Northwest Farm Credit Services outlook on 2018, we turn to cherries and wineries. Karen Witt, Northwest Farm Credit Services Vice President says last year was a good year for Northwest grape growers. She said vineyards in Oregon should hit a record 85,000 to 90,000 tons for their 2017 crop, while Washington vineyard tied their record for second largest on record at 227,000 tons.
“Direct to consumer wine sales remain strong and continue to grow, but that growth is expected to plateau. Also, as new boutique wineries open for business the marketplace is becoming more and more crowded.”
By the way, California’s wine grape harvest was down less than 1% last year at four million tons. Turning to cherries, Witt says Northwest can expect two outcomes.
“Early season cherries will benefit from an early harvest in California that will prime the consumer’s pump and return a profit. But as more cherries enter the market mid-to-late season, prices will be squeezed to near breakeven.”
Join us Friday as we wrap up our NWFCS 2018 outlook with wheat and hay.
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