WINE grape growers are forecast to leave the industry for more profitable returns following forecasts of higher production but weaker prices in the years ahead.
According to the Australian Bureau of Agricultural and Resource Economics and Sciences Agricultural Commodities Report, Australian wine grape production is forecast to increase by 21 per cent to 1.6 million tonnes in 2023-24, however prices are forecast to fall by 9 per cent to reach an average of $590 per tonne in the same period.
After widespread heavy rainfall and waterlogging in 2022-23, predominantly drier weather through the 2023-24 growing season had helped reduce the risk of mildew, ABARES said.