News.com.au
Unprofitable vineyards in Australia as a result of a wine glut is pulling prices so low that in some cases, bottled water is now more expensive. Across Australia, 31 vineyards have been sold by Foster's, the largest winemaker in the country.
Overoptimism during the last decade due to strong sales abroad has run head-on into a number of factors, including competition overseas, the global financial crisis, and an oversupply of cheap wine.
GG: Sydney here I come!
Unprofitable vineyards in Australia as a result of a wine glut is pulling prices so low that in some cases, bottled water is now more expensive. Across Australia, 31 vineyards have been sold by Foster's, the largest winemaker in the country.
Overoptimism during the last decade due to strong sales abroad has run head-on into a number of factors, including competition overseas, the global financial crisis, and an oversupply of cheap wine.
GG: Sydney here I come!
3 comments:
I thought you were mainly a beer person :-)
I remember that on family holidays to France in the 1970s, there came a point when the local wine was cheaper than petrol. My Dad was amazed by this, wine being a very exclusive expensive product when he was growing up in south Wales.
Let me know and we will join you
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