SVB: Winegrape Supply Balanced Out in 2020, But Still Too Many Acres

Dear Client:   At the start of 2020, there were major concerns about wine grape oversupply. The 2020 Silicon Valley Bank State of the Wine Industry report projected it would take three to six years for supply to rebalance. That timeline changed pretty quickly largely thanks to the pandemic.  "Circumstances changed on the demand side in March, while they changed on the supply side in August," writes Rob McMillan, evp and founder of SVB's wine division, in the 2021 State