The Price Of Wine Is Expected To Drop To Lowest Mark In Five Years

The Price Drop Is Thanks To A Surplus Of California Grapes

February 17, 2020

Inside Creative House

For wine drinkers, the only down side of the alcohol made from fermented grapes is that quality usually comes with a high price tag. However that could soon be changing as the price of wine is expected to drop to its lowest price in five years. The cheaper wine is thanks to a surplus of grapes in California.

Many wine drinkers pride themselves on being able to spot out good wine with a low price, but that soon will no longer be necessary. Wine consumers are expected to see the “best wine retail value in 20 years,” according to the founder of Silicon Valley Bank’s Wine Division and author of the annual State of the Wine Industry report, Rob McMillian.

This decrease in price could last up to three years thanks to the surplus of graves combined with a decrease in wine demand. This is good news for wine drinkers, as it means more wine to go around for them. Hopefully California keeps pushing out grapes and this decrease can last even longer.