A Perfect Storm?
It's reported in the press this week that Wine consumption fell 2.6% to an estimated 221 million hl last year,
slipping for a second year to the lowest level since 1996 (according to the International Organisation of Vine and Wine (OIV) - that’s equivalent to around 800
million fewer bottles being uncorked around the world.
And there is currently an astoundingly large wine glut in the world! Last year the EU gave France about $172 million to destroy nearly 80 million gallons of wine (it will be distilled into pure alcohol to be used in perfume and cleaning supplies).
Australian wineries alone are sitting on more than 256 million cases of wine—more than two years of inventor - and it's not all due to the Wine row with China.
And as I blogged before, in the USA they are ripping up cheap vineyards to plant more premium vines.
So what to do?
Do as we always told you to do! Drink less, but of better quality wine!
And there is currently an astoundingly large wine glut in the world! Last year the EU gave France about $172 million to destroy nearly 80 million gallons of wine (it will be distilled into pure alcohol to be used in perfume and cleaning supplies).
Australian wineries alone are sitting on more than 256 million cases of wine—more than two years of inventor - and it's not all due to the Wine row with China.
And as I blogged before, in the USA they are ripping up cheap vineyards to plant more premium vines.
So what to do?
Do as we always told you to do! Drink less, but of better quality wine!