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- Ahead of the winter harvest, wine companies need to prepare.
- Some companies have had a good harvest and are expecting a better one in the winter.
- With winter setting in, let’s see how these companies are doing and also track their stock movements.
Wine, a primary industry in New Zealand, with export being done to different parts of the world besides fulfilling local needs, requires special attention.
With the coronavirus pandemic having delayed transactions and disrupted the supply-chain flow, it has turned out to be good for vintage wines. They have had better time to mature and 2021 has been labelled as the best vintage wine year so far.
With the Winter harvest awaited, wine Companies across the country have been trying to prepare themselves to meet the demands of the customers.
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Marlborough Wine Estates Group Limited (NZX:MWE)
One of New Zealand’s most prominent wine Companies, it has years of experience in producing some of the finest quality blends, keeping in mind the best techniques and processes to ensure that the final product is delectable.
In the previous update about the 2021 harvest, the Company had revealed that even though the yield was lighter, there was increased focus on online buying and selling, helping the numbers remain relatively stable. December to March being a strenuously dry period, 2021 vintage has been allowed to age better.
On 1 June, at the time of writing, Marlborough Wine Estates was trading at NZ$0.285, up by 3.64%.
Delegat Group (NZX:DGL)
With their vineyards located in Barossa valley, Hawke’s Bay, besides Marlborough, this is also one of the most renowned global wine Companies.
In the latest announcement made by it, the Company revealed that in the previous harvest concluded by the organisation it has garnered a harvest merely 2% lower than the pcp.
It is further expected that the vintage wines are going to be a bet for garnering the best outcome, with online sales helping pick the pace for the Company.
On 1 June, at the time of writing, Delegat Group was trading flat at NZ$14.900.
Foley Wines Limited (NZX:FWL)
This 1988-established Company is one of the most iconic wine producers in the country. It has several brands attached with it as well as it deals with various markets across the world.
In its update about the previous harvest, the Company said that while there was a 28% decline witnessed in the harvest for the company to pcp, there are new markets being discovered by the Company at comparatively better pay points, meaning it shall help in dealing with higher costs for vintage wine production.
On 1 June, at the time of writing, Foley Wines was trading unchanged at NZ$1.720.
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