Wine Prices to Drop in 2020 Due to Excess Grape Supply
Well, isn’t this grape news? If you’re a wine-o then you’re probably thrilled to hear that there is going to be a significant price drop on your favorite wines due to an excess supply of grapes.
ABC 7 has reported that wine distributors will be forced to offer discounts at every price-point. During a recent winemakers conference, Allied Grape Growers highlighted the fact that an estimated 100,000 tons of grapes were left on vines last year without buyers.
Allied Grape Growers also revealed that the number of California wine exports since 2014 have consistently been dropping. The demand for wine is is at an all time low, especially among millennials.
There's a two year glut of grape production and it means a drop in wine prices.
— Jeux olympiques de Paris du 5 au 13 août 🐢 (@HarlemJ11) February 12, 2020
Wine drinkers and winos rejoice!
https://twitter.com/mkjo1018/status/1227442477600256001
Just heard on the news that wine prices are going down this year... pic.twitter.com/06g7K7zcor
— Sapphira Vee🦋Aerial Human🦋 (@Sapphira_Music) February 13, 2020
Wine prices is going down, thanks to a boom in grape production. 2020 is the year of wine. pic.twitter.com/TCij9QZ0nv
— Ash (@swankness) February 12, 2020
Wine prices about to drop it’s lit, God made grapes into wine and he stay blessin us 😭😭😭👏🏽👏🏽
— Down with Muriel🖕🏽 (@Antwheels__) February 12, 2020
