Wine prices are meager right now, which is a great deal for us wine drinkers and sommeliers. Problems come in when the prices are too low. This is happening in the Australian wines right now, with wine prices spiraling down due to the joint pressure of a major wine glut and market pressures.
The result is that mid-level wineries will start failing if the situation doesn’t correct itself soon, which means fewer great wines from down under for us. The first near-casualty is the Evans & Tate winery of Western Australia. The company announced yesterday that it had lost over $136 Million (AU) Dollars over the last two years.
It would be a shame to lose these guys, as they make some amazing cool-weather Chardonnays.