Innovative wine makers raises the profile of local wines
CAPE TOWN – Although the impact from the drought experienced in the Western Cape may be less severe on the the 2018 wine grape harvest than previously estimated, it has challenged local winemakers to be more innovative.
This is according to Koos Nel of Old Mutual Personal Finance.
Nel added that fine wine competition made a crucial contribution to the regional economy by driving excellence in the industry and raising the profile of local wines locally and internationally.
He said by raising standards in winemaking, fine wine shows boosted not only the wine industry itself, but also affiliated industries.
“Some estimates expected the harvest to be between 60 percent and 80 percent lower in 2018 than in 2017. However, we now expect only a 15 percent lower yield in 2018 compared to previous years. There’s no doubt that the creative ways in which winemakers have tackled the drought, water restrictions and their related challenges helped lessen the impact,” said Nel.
He cited a recent report by Vinpro which found that wine tourism contributed R15 billion to the local economy with local wine sales amounting to R13.2bn.
“It’s clear that the wine industry continues to support regional economies through agriculture, manufacturing, trade, tourism and hospitality. In terms of state revenue we’ve seen consistent increases in the amount paid to government via excise and other taxes. In 2017, this amounted to R6.7bn, an 8 percent increase on 2016,” said Nel.
Source: iol.co.za