The Australian Wine and Brandy Corp. has said it expects prices of red wine to fall during the coming months as wineries tackle over- capacity and strong competition. But it added that it expected this financial year to mark the peak in the oversupply of red wines following extensive new plantings.
The Australian Wine and Brandy Corp. has said it expects prices of red wine to fall during the coming months as wineries tackle over- capacity and strong competition. But it added that it expected this financial year to mark the peak in the oversupply of red wines following extensive new plantings.
By contrast, the Corporation stated that lower volumes of new plantings in white wines had led to moderate shortages so prices of white wines may rise slightly.
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