If you're paying top dollar for Australian wines, you may want to consider patronizing a different wine merchant.
The ongoing economic woes are continuing Down Under. According to Mark McKenzie of the organization Wine Grape Growers Australia:
"Really it's more around the fact that that lower volume coupled with the worst price position for wine grape growers in terms of the wine grape prices they're receiving in real terms which are the worst in living memory, that is what's causing the financial crisis in the wine grape sector at the moment."
In an effort to stabilize grape supply, nearly 20,000 acres of vines have been uprooted in the Murray Valley and Riverland areas. In the past two years, an oversupply and a dip in prices has wreaked havoc with the industry.
Australia has an estimated 95 million cases of unsold wine.
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