NEW ZEALAND FARMERS WORRY OVER SUPPLY

New Zealand’s grape harvest grew 11% in 2007, but the wine industry says its will likely not meet demand and will have to increase prices. NZ exports rose 31% in the 10 months ending April 30 and members of the New Zealand Winegrowers say a bigger harvest just won’t cut it. A strong dollar also has New Zealand exporters worrying about the continued success of their brands, particularly in the U.S. which consumes about 25% of New Zealand wine.