Wine growers believe the toughest market conditions they have seen for 25 years are going to get worse.
NZ Winegrowers chairman Stuart Smith says the 2008 grape glut teamed with the global financial crisis has created a perfect storm for growers, with many vineyards being forced to sell up at a loss or go into receivership.
Gisborne grower Tom Brodie told Nine to Noon that about 50 local vineyards have lost their contracts in recent times and grape prices have halved in the past year or so.
He expects the situation to get worse before it gets better, as does Stuart Smith, who says the industry must learn to control production in accordance with market demand if it is to recover.
