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The international rating agency Fitch Ibca, Duff & Phelps announced it expects the price of Chilean wines to fall 10-12% during 2001. The company's chief wine industry analyst, Matias Acevedo, said aggressive campaigns by large wineries to gain market share are a major contributor to the price drop. Furthermore, strong competition in the domestic wine market led to an environment of overproduction, Acevedo said.
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