10-21 IAN Idaho Wine
Northwest FCS provides more than $11 billion in financing and related services to farmers, ranchers, agribusinesses, commercial fishermen, timber producers, rural homeowners and crop insurance customers in Montana, Idaho, Oregon, Washington and Alaska. Just one of the beneficiaries of their financial services is the wine industry in Idaho, which, according to Moya Schatz of the Idaho Wine Commission is booming. Weighing in with his thoughts is Northwest Farm Credit Services VP - Market Research and Development, Michael Stolp. “The Northwest wine and vineyard industries are on track for a good year. The quality of 2013’s vintage is being reported as exceptional. Improved wine sales in the Northwest are indicative of industry optimism. The overall U.S. industry is profitable, driven by an improved economy, rise in consumer confidence, increase in selling channels, and improved value relative to price. However, challenges linger concerning market accessibility and off-balanced inventory levels. Due to continued consolidation among distributors, wineries’ market access will remain an ongoing challenge, especially for smaller brands. In contrast to near record low inventories leading up to the 2012 harvest, current bulk inventories are high. Spot prices for bulk wines are expected to be soft until inventories are better balanced.”
