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Lower yields and a reduced grape price for Sauvignon Blanc, along with a 6% rise in operating expenses, saw a major fall in profitability in the Marlborough vineyard model in 2023/2024.
The Vineyard Monitoring Report for Marlborough, produced by the Ministry for Primary Industries and NZW, uses financial data from 50 vineyards to create a representative model that tracks trends in revenue, expenses and profitability.
The vineyard model's economic vineyard surplus in 2023/24 was $4,755 per producing hectare, which is slightly higher than 2020/21, but the second lowest operating profit for the model since 2011/12.
Morale amongst the survey group was lower than in the past two seasons, influenced by a low yield year, a reduction in grape prices and increased costs, according to the report summary.
"The high wine stock levels carried over from the 2023 vintage was of concern to many."
mpi.govt.nz/dmsdocument/65616/direct
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