CHILE’S WINE FUTURE: BETTER THAN EXPECTED
Despite the effects of the magnitude 8.8 earthquake that hit Chile in February, its wine industry’s prospects don’t appear too dire. Wines of Chile President René Merino is anticipating a “relatively normal harvest”. He projects that 2O1O wine production will be around 22O million gallons, which is 15% below 2OO9 “mainly because last year’s harvest was exceptionally good as a result of favorable weather”. It’s estimated that Chile lost 32,5OO gallons, or 13%, of last year’s production in the earthquake with a value of $25O million. It isn’t clear yet how long the industry will need to recover. Chilean wine exports have also struggled in recent years from the strengthening peso, which has forced many producers to drop prices.