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Experts say wine prices will drop due to excess in supply of grapes

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Posted at 1:49 PM, Feb 15, 2020
and last updated 2020-02-15 14:49:11-05

Wine prices are expected to drop after experts say growers have produced large crops of quality grapes.

Experts at a recent winemakers' conference say growers have produced large crops of quality grapes over the last two years, according to ABC13.

Allied Grape Growers said a problem many California grape farmers are facing is too much supply. In its latest newsletter, the organization says an estimated 100,000 tons of grapes were left hanging on vines without buyers last year.

The newsletter also says the demand for wine is dwindling. Data published in the Gomberg Fredrikson Report found the number of California wine exports have consistently dropped since 2014.

Experts say distributors will be forced to offer discounts at every price-point.