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Experts predict that a grape surplus will cause prices to fall to the lowest level in five years

The price of wine falls to the lowest level in five years due to the grape surplus in California

  • A surplus of California grapes, combined with reduced demand, is expected to lower prices to the lowest level in five years
  • The declining demand is attributed to a preference for spirits and ready-made cocktails
  • In 2016, vineyards in Northern California started using more efficient harvesting methods, leading to more grapes

A surplus of Californian grapes gives wine lovers a reason to celebrate.

That’s because experts predict that the abundance of grapes, combined with reduced demand, will ensure that wine prices fall to the lowest level in five years.

Even better for wine lovers, the lower prices are expected to continue in the near future.

A surplus of California grapes, combined with reduced demand, is expected to lower wine prices to the lowest level in five years

A surplus of California grapes, combined with reduced demand, is expected to lower wine prices to the lowest level in five years

Experts say that one reason for the declining demand is that more Americans seem to be turning their appetite into spirits and ready-made cocktails.

Experts say that one reason for the declining demand is that more Americans seem to be turning their appetite into spirits and ready-made cocktails.

Experts say that one reason for the declining demand is that more Americans seem to be turning their appetite into spirits and ready-made cocktails.

Experts say that one reason for the declining demand is that more Americans seem to be turning their appetite into spirits and ready-made cocktails.

Moreover, millennials must still acquire the same taste for wine as previous generations.

What leads to the surplus?

In 2016, Northern California vineyards began using more efficient harvesting methods to plant thousands of acres of new vines.

Although having more grapes may sound like a good thing, it has not happened that way because demand is falling.

In 2016, Northern California vineyards began using more efficient harvesting methods to plant thousands of acres of new vines

In 2016, Northern California vineyards began using more efficient harvesting methods to plant thousands of acres of new vines

In 2016, Northern California vineyards began using more efficient harvesting methods to plant thousands of acres of new vines

According to Jeff Bitter, president of Allied Grape Growers, the surplus can reach the secondary market, where they are used for brandy or grape concentrate.

However, that market usually does not translate into sustainable returns for growers.

Bitter told CNN: ‘Until 2015, wine shipments had grown for almost two decades. The slowdown in growth has surprised the industry.

“Because it takes up to five years to put wine on the market from the initial planning stages of planting a vineyard, hitting future demand is very complicated. In this case we exceeded the demand. “

To correct the situation, California growers must produce fewer vines.

Even then, an expert predicts that it will take two to three years for prices to stabilize.

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