Abstract
Demand for US wine imports, import planning process. Nerlovian adjustment model, short and long run elasticities, forecast The increase in wine imports, poses questions about a possible trend, and its implications for future investment opportunities of US wine companies in other wine producing countries. This article presents a model to explain the demand for wine imports in the US. Using econometric procedures we estimate coefficients of the major explanatory factors such as relative wine import prices, exchange rates, real per capita income, wine production capacity, and population. The model is used to forecast likely wine import volumes from 2003 to 2012. Even under conservative assumptions about trends of those explanatory variables we predict an important increase in US wine imports.
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