Especially since wine is cheaper than water.

The price collapse and overplanting has forced Australia's biggest winemaker, Foster's, owner of prestigious labels such as Lindemans and Penfolds, to sell 31 vineyards across the country, including 16 in South Australia and nine in New South Wales.

Major wine retailer Dan Murphy's is currently selling cleanskins for $1.99 a bottle - cheaper than some bottled water - due to the oversupply crisis that has led to some vineyard owners leaving grapes to wither on the vine.

"We've seen growers who didn't bother picking their grapes this year," said wine industry critic and judge Stuart Gregor.

 "There is a huge oversupply and we have more grapes than we are selling, and prices are being pushed down."

Posted by: eddiebear at 12:59 PM | No Comments | Add Comment
Post contains 132 words, total size 1 kb.