Savor Australian Wine… Drought May Cut 2008 Wine Vintage by Half

MELBOURNE (Reuters) - Australia’s drought could cut the 2008 wine grape vintage by more than half, industry groups said on Monday, cutting into a A$3 billion ($2.6 billion) a year export business and possibly forcing hundreds of winemakers out of business.

The 2008 vintage is likely to fall to between 800,000 tones and 1.3 million tones, compared with a normal seasonal crop of about 1.9 million tones, according to Wine Grape Growers and Winemakers’ Federation of Australia.

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