Oz Grape Glut Keeps Wine Prices Low
Issue: October 31, 2006
Europe and Australia share a similar problem: massive grape oversupply, to the tune of about 1 billion liters of unsold wine sitting in tanks and bottles. But while the European Union's Agriculture Commission has proposed that growers tear out more than 1 million acres of vines over the next five years, the more conservative Australian government is simply pushing the industry to sell more wine.
For the full article, check out the new issue of Wine Spectator, on newsstands October 31, 2006.