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The Dark Effect of the Wine Glut
Wine prices are at an remarable low right now, and that is a great deal for us wine drinkers. Problems come in when the prices are too low. This is happening in the Australian wines right now, with wine prices spiraling down due to the joint pressure of a major wine glut and market pressures.
The end result is that mid-level wineries are going to start failing if the situation doesn’t correct itself soon, and that means less great wines from down under for us. The first near-casualty is Evans & Tate winery of Western Australia. The company announced yesterday that is has lost over $136 Million (AU) Dollars over the last two years.
It would be a shame to lose these guys, as they make some amazing cool-weather chardonnays.
Keith Wallace
Keith is the founder of the Wine School of Philadelphia. He has written for many publications, including the Daily Beast, and the Huffington Post. He is the the author of Corked & Forked, available at all fine bookstores. A former executive chef and professional winemaker, Keith enjoys living in Center City, Philadelphia with his wife and two dogs. He is also the National Sommelier for Bacchus Selections, and a founding member of the National Wine School.
