Price estimation and economic evaluation of the production cost of red wines produced by immobilized cells on dried raisin berries

Tsakiris, A; Sotirakoglou, K; Kandylis, P; Kaldis, P; Tzia, C; Kourkoutas, Y

dc.contributor.author	Tsakiris, A	en
dc.contributor.author	Sotirakoglou, K	en
dc.contributor.author	Kandylis, P	en
dc.contributor.author	Kaldis, P	en
dc.contributor.author	Tzia, C	en
dc.contributor.author	Kourkoutas, Y	en
dc.date.accessioned	2014-03-01T02:03:05Z
dc.date.available	2014-03-01T02:03:05Z
dc.date.issued	2011	en
dc.identifier.issn	11791403	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/29354
dc.subject	PCA	en
dc.subject	Price	en
dc.subject	Regression analysis	en
dc.subject	Sensory quality	en
dc.subject	Wine market	en
dc.title	Price estimation and economic evaluation of the production cost of red wines produced by immobilized cells on dried raisin berries	en
heal.type	journalArticle	en
heal.identifier.primary	10.2147/IJWR.S16389	en
heal.identifier.secondary	http://dx.doi.org/10.2147/IJWR.S16389	en
heal.publicationDate	2011	en
heal.abstract	The aim of the study was initially to estimate the price of red wines produced by immobilized cells on dried raisin berries and subsequently to investigate whether the estimated price was sufficient to counterbalance the increased investment and operational costs required for industrial application of the novel biotechnological process. Price estimation of the experimental wines was based on the correlation of sensory quality, determined by a group of trained tasters, and the price of commercial wines available in a certain market. Application of principal component analysis (PCA) provided improved results over simple and exponential regression analysis, as only a part of the relationship between the two variables was represented (68.4% and 75.3%, respectively). However, with PCA the total variance explained by the two components was 100%. Taste was more important than aroma in determining sensory quality, and wine price was mainly affected by sensory quality rather than wine age in the Greek market. The total increase of production cost was estimated to be €0.032/bottle, which is significantly lower than the increase of €2.08/bottle price estimated by PCA for the red wines produced by immobilized cells, due to the improved aromatic potential compared with wines produced by free cells. Hence, profit for the wine industry was estimated to be €1.02/bottle. © 2011 Tsakiris et al.	en
heal.journalName	International Journal of Wine Research	en
dc.identifier.doi	10.2147/IJWR.S16389	en
dc.identifier.volume	3	en
dc.identifier.issue	1	en
dc.identifier.spage	1	en
dc.identifier.epage	8	en