As we conclude our week long Commodity snapshot series, we look at Northwest cherries and wines. Bill Perry, Vice President for Lending and Insurance at Northwest Farm Credit Services said they expect slightly profitable returns for cherry growers.
“Mild weather during the growing season resulted in good fruit quality. Strong domestic demand after major crop loss in California created strong markets for Northwest cherries, but pricing programs set earlier in the year tempered returns.”
Perry added Little Cherry Disease remains a concern for the entire industry.
When looking at the local wine industry, Perry said Northwest Farm Credit Services anticipates slight profits for vineyards and profitable returns for wineries over the next 12 months.
“Increasing wine values will benefit wineries. Vineyards without contracts will struggle to find opportunities to market their grapes away from the bulk wine market where profits are minimal. Losses will occur for some Washington vineyards unable to harvest portions of their crop due to the freezes,” Perry continued.
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