Both in terms of yield and quality, the 1997 wine-grape harvest may be one of the best in decades.
Consumer demand is strong, but supplies are catching up.
In fact, she says, most industry watchers believe the days of premium wine shortages are over. To the greater delight of the industry, consumers' tastes for wine are increasingly more sophisticated, allowing wineries to produce more upscale, premium wines. According to Horiuchi, premium wines now make up nearly half of total wine sales. Wine industry analysts also expect continued increases in sales of red wine. The abundant supply of 1997 will gradually affect wine prices, she says.