|By Marketwired .||
|January 26, 2013 08:00 AM EST||
NIAGARA-ON-THE-LAKE, ONTARIO -- (Marketwire) -- 01/26/13 -- According to BMO Economics, the Canadian icewine industry is poised for solid production and sales this season as a result of ongoing low temperatures this winter, favourable growing conditions in 2012 and, more generally, a shift by consumers from beer to wine.
Icewine - first made in Germany in the late 1700s - is made from grapes that have been left on the vine until a sustained temperature of minus 8 degrees Celsius or lower is reached, boosting the grape's sugars and enhancing the flavour. Typical varietals used for icewine include Riesling, Vidal and Cabernet Franc.
Since frozen grapes produce a small amount of liquid, the production volumes of icewines are lower compared to table wines. The result is pricier wines, ranging from $50-$100 or more for a 375 ml bottle.
"Last year brought solid growing conditions for most varieties of wine grapes in both Ontario and British Columbia, and the crop is expected to produce some exceptional wines," said Aaron Goertzen, Economist, BMO Capital Markets.
"Ontario's icewine grape harvest for this season is expected to total 5500 tonnes - an increase of 50 per cent from the year before. This raises the prospect of ongoing solid production and export growth." However, Mr. Goertzen added that production will be 20 per cent below the record set in 2007.
In Ontario, the largest icewine-producing province, icewine production accounts for approximately four per cent of total wine production by volume. However, because of its high price, icewine's share in sales would likely be substantially higher, according to Mr. Goertzen.
"The 2012 vintage will likely go down in history as the best vintage ever for Ontario table wines and this is likely to prove true for icewine as well," said Norm Beal, President, Peninsula Ridge Estates Winery. "Although we have anxiously awaited a little longer for colder temperatures this year, the extra time on the vine has further added to the richness and complexity of an already stellar icewine vintage."
Mr. Beal stated that yields are down in some areas by as much as 40 per cent given the late cold snap. However, he believes that the exceptional quality of the 2012 vintage combined with skyrocketing demand from the Far East will result in increased global demand for Ontario icewines.
Canadian icewines continue to make inroads internationally
Mr. Goertzen noted that conditions are ripe for the Canadian icewine industry to expand its presence globally. "There is room for Canadian wineries to increase their exports of premium-priced products such as icewine, for which economies of scale are not as important. While icewine is produced in relatively small quantities, its high value means that it already accounts for one-third of wine exports, and Canadian wineries are internationally renowned for this cold-climate product."
On a volume basis, Canada exported the equivalent of 483,000 375 ml bottles of icewine in 2011. Around 80 per cent of Canadian icewine is exported to Asia, with China accounting for nearly half of the total.
"Icewine represents a fantastic opportunity for Canadian wineries to showcase a popular, made-in-Canada product to consumers around the world," said Al Giguere, Commercial Banking Area Manager, Niagara Region, BMO Bank of Montreal. "With more nations looking for unique, high-quality products like icewine, the market for wineries we work with in Ontario and B.C. will no doubt continue to expand."
Mr. Goertzen added that icewine is part of an overall robust Canadian wine sector. "The Canadian wine industry has expanded considerably over the past two decades. The stimulus comes from an aging population as well as a willingness by consumers to pay more for premium wines."
Canadian adults in 2011 purchased an average of 22 bottles of wine, up from 13 bottles in 1995. One-third of wine consumed in Canada is produced by domestic wineries.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $525 billion as at October 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Aug. 1, 2015 09:00 PM EDT Reads: 657
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Aug. 1, 2015 06:30 PM EDT Reads: 153
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 1, 2015 04:45 PM EDT Reads: 481
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Aug. 1, 2015 03:15 PM EDT Reads: 326
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Aug. 1, 2015 03:00 PM EDT Reads: 517
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Aug. 1, 2015 02:45 PM EDT Reads: 453
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Aug. 1, 2015 11:15 AM EDT Reads: 180
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Aug. 1, 2015 10:30 AM EDT Reads: 215
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Aug. 1, 2015 10:00 AM EDT Reads: 294
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Aug. 1, 2015 09:45 AM EDT Reads: 393
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Aug. 1, 2015 09:45 AM EDT Reads: 139
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Aug. 1, 2015 09:45 AM EDT Reads: 189
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Aug. 1, 2015 08:00 AM EDT Reads: 311
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Aug. 1, 2015 08:00 AM EDT Reads: 1,689
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Jul. 31, 2015 11:45 PM EDT Reads: 790