The price of wine is expected to drop to its lowest levels in five years thanks, in part, to a surplus of California grapes as well as a decreased demand for wine
The price of wine is expected to drop to its lowest levels in five years thanks, in part, to a surplus of California grapes.Combined with a decreased demand for wine, drinkers can expect to get better value for every drop they drink this year. The cheaper prices may even last up to three years.
How Hungary produced the 'world's most expensive wine'"Since it takes up to five years to bring wine to market from the initial planning stages of planting a vineyard, it makes hitting future demand very complicated. In this case, we overshot demand."To bring the market back into balance, California growers will need to cut down on producing acres of vines.
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