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Global Wine Market

All articles tagged with #global wine market

agriculture1 year ago

"Australian Farmers Grapple with Wine Glut, Remove Millions of Vines"

Australian farmers are ripping out millions of vines due to a wine glut caused by falling global wine consumption, particularly in the cheaper red wine segment. This overproduction has led to plummeting grape prices, threatening the livelihoods of growers and wine makers. To balance the market and lift prices, up to a quarter of the vines in areas such as Griffith must be pulled up, amounting to about 20 million vines across 12,000 hectares. The shift away from grape growing is prompting many farmers to turn to citrus and nut trees, signaling a significant transformation in the Australian agricultural landscape.