US Wine Prices to Hit a 20-Year Low
- 4 years ago
US Wine Prices 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." 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. Jeff Bitter, via CNN
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." 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. Jeff Bitter, via CNN