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Excess wine leads to bargains for consumers
1 Jun 2004
Consumers are buying cleanskin wines at savings of up to 50 per cent, due to vineyards getting rid of excess stock to make room for this year's production. Additional factors contributing to the wine glut are a strong Australian dollar, declining exports and overflowing stocks. The latter was confirmed by Prospect Wine's Tony Weir, who said wineries have a lot of excess stocks.
Mark Pendreich, of Prahran-based 6Js which specialises in cleanskin products, stated that most of the wine stems from unsold exports. Mr Pendreich blames the current bargain flood on the "ridiculous" amounts of grapes planted in 1999-2000. The market failed to absorb the production, leading to falling exports across the board.
Herald Sun, 29/5/04, page 15.
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