Australia’s Growing Pains
The recent grape glut in Australia will lead to lower prices on low to mid range inexpensive wines experts say. The New South Wales Wine Industry Association says that wines that cost $20 AUS ($15 USD) will drop $5 AUS as will $15 AUS wines. I guess this happens when you have 104 Million cases of wine sitting around with 2 back to back record harvests and more grapes on the way. David Lowe, the Association President, commented that he didn’t expect to see prices falling in the low or high end categories, but that could change.
In November, Lawrie Stanford, the Australian Wine and Brandy Corporation’s information and analysis manager, warned that the country’s glut could last for another five years as export growth slows. Stanford said that grape supply could continue to outstrip demand until 2010. - JustDrinks
Read [Decanter]
