The Price of Wine is Dropping Fast
In the words of P!NK, "Raise your glass" to knowing you are getting the best wine retail value in 20 years.
The price of wine is expected to continue to drop. California vineyards and efficient harvesting has led to a very bountiful last few harvests.
The vineyards are ending up with more grapes than they know what to do with, so unless the demand meets the supply, a lot of grapes could be going to waste.
It is possible for the excess grapes to be used in grape concentrate, or brandy, but that's more of a last resort because the return of cash on this option isn't too high.
It takes about 5 years from planting a vineyard to bringing wine to market, so the 2015-2018 boom will be seen this year through 2023.
Read more at CNN