AUS: Over a barrel
AUS: Over a barrel
Apr 9, 2011 6
Extreme weather, poor prices and a lingering grape glut make for cheap wine, but the industry is close to breaking point, writes Mark Russell.WINE prices could remain at record lows for another five years despite the industry's latest efforts to tackle Australia's six-year grape glut.A report on the struggling wine industry confirms downward pressure on prices will continue in 2011 because of the oversupply of grapes, the rising Australian dollar and a ''shocker'' of a season caused by heavy rain, floods, locusts and disease.
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