(Wines&Vines) - Turrentine Brokerage has just released its annual Turrentine Outlook with an overview of the wine supply in California. The 247-page report also focuses on the split between grape and wine supply for brands priced less than $9 per bottle versus brands selling for more than $9 per bottle.

Turrentine president Steve Fredricks summarized its findings before providing more detail: “Things are going along pretty well. A number of factors are influencing grape supply, but we aren’t facing any single variable that is dominating market dynamics as in years past. You just have to keep track of more variables.”

The 2015 harvest was light in coastal regions and about average in California’s interior regions, which helped to balance excess inventories brought on by the large 2012, 2013 and moderate 2014 harvests.

This shift has increased demand for bulk wine and most 2016 grapes from all regions at the same time that fewer grapes and less bulk wine are actively for sale compared to previous years at this time.

And while the El Niño weather pattern didn’t live up to expectations, California growers still received enough water to breathe easier throughout the 2016 growing season.

And while the El Niño weather pattern didn’t live up to expectations, California growers still received enough water to breathe easier throughout the 2016 growing season.

Global bulk wine inventories are currently more in line with sales than they have been, especially at the low end due to the shorter crops in South America and reduced acreage in Australia and Europe.