McGuigan wines producer Australian Vintage has warned that it is facing a hard 2014 vintage, but the firm has been buoyed by a rise in profits in the first half of its financial year.
Yields across several regions are liable to be down in the current harvest as a result of the extreme weather during the growing season, Australian Vintage said in its half-year results.Early harvest reports are generally excellent in some regions, notably Margaret River and parts of Hunter Valley, but the country-wide picture at this the boards is that 'the 2014 vintage will be very challenging', the McGuigan wines producer said. 'There are signs that the frost, disease and heat will impact on vineyard yields,' said the group, although it said it is too early to predict final crop levels. A smaller harvest might not be the worst situation for an Australian wine industry subdue dealing with pockets of inundate and falling
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