Wine prices expected to drop thanks to excess supply of grapes

News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

Wine lovers can toast to the lowest prices in five years, KCRA reports.

That’s thanks to a grape surplus in California.

It’s also due to lower demand as Americans opt for liquor and cocktails.

But growers aren’t quite ready to join the celebration.

The state of wine industry report says wine prices could even be the lowest in the past 20 years because of a surplus of grapes.

But the San Joaquin County Farm Bureau says that’s not good news for everyone , especially grape growers.

In fact, the San Joaquin County Farm Bureau says some growers are choosing to leave grapes on the vine because it would cost more to produce.

“Wine grapes being left in the field, and that’s pretty sad. That’s a lot of money that were left out. Look like each one of those bundles of grapes hanging in those vines look like dollar signs to me because that’s really what it meant to those land owners,” said Bruce Blodgett with the San Joaquin County Farm Bureau.

The wine industry report also says millennials don’t drink as much wine.

But the report says with lower prices that may change.

It takes about five years for wine to go from the vine to the market.

So it will take a while for supply and demand to even out.

Must-See Stories

More Must-See Stories

MOST POPULAR

Follow FOX8 on Twitter