Alex Mac

Alex Mac

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Wine Prices Will Be the LOWEST They've Been in 20 Years!!

US Wine Prices are about to Hit a 20-Year Low!

"The drop is attributed to the basic concept of supply and demand. In a 2020 analysis for the 'State of the U.S. Wine Industry,' Silicon Valley Bank Wine Division founder Rob McMilian says the supply chain for wine is "stuffed." This oversupply, coupled with eroding consumer demand, can only lead to discounting of finished wine, bulk wine, and grapes, Rob McMillan, via report. McMilian adds that retail values for wine will be at their best level in two decades. One big reason is that California has a surplus of grapes resulting from increased vine plantings in 2016. According to Yahoo, experts say the trend will last up to three years. This will be good for consumers, but lack of supply could be an issue for producers. Allied Grape Growers President Jeff Bitter says that future demand could become hampered since the journey for wine to market can take up to five years. Until 2015, wine shipments had grown, almost predictively, for two decades. The slowdown in growth has caught the industry by surprise,"; Jeff Bitter, via CNN

Wine Prices Will Be the Lowest They've Been in 20 Years!!

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