In Australia, THE WINE IS CHEAPER THAN WATER!!
From News.Com.Au:
A wine glut has driven prices lower than bottled water as the industry faces an unprecedented meltdown and a fire-sale of unprofitable vineyards. The price collapse and overplanting has forced Australia’s biggest winemaker, Foster’s, owner of prestigious labels such as Lindemans and Penfolds, to sell 31 vineyards across the country, including 16 in South Australia and nine in New South Wales. Major wine retailer Dan Murphy’s is currently selling cleanskins for $1.99 a bottle – cheaper than some bottled water – due to the oversupply crisis that has led to some vineyard owners leaving grapes to wither on the vine.
I wish we could add to the conversation here at Cherries And Clay Headquarters, but what can we say that hasn’t already been said by…
…and so on.
Overall, this seems to be a reflection of the financial state of the world, riding an imaginary wave a little too far. On the upside- one would think that all of this will, at the very least, create an environment and a demand for higher quality wines and wineries/companies looking to up their offerings rather than racing to the finish line with riper, juicier, jammier fruit bombs simply for a quick buck.
Time will tell.
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.