Reportedly, last year ~10% of California vineyards were uprooted, some grapes like Pinot Noir production is down 30%. Growers are going to keep trimming until they get back into the black, or prices fall down far enough for consumers to come back, whichever happens first. And it's not going to be just CA, it will be NY, TX, WA, OR wineries too, all areas that had big capex expansion over the past 10 years.
You can see it happening in real-time, right this moment. Go to your local Costco wine section, look for the clearance markdowns where the price ends in $0.97. That means it's marked for clearance and won't be coming back, and there's some screaming deals right now.
You can see it happening in real-time, right this moment. Go to your local Costco wine section, look for the clearance markdowns where the price ends in $0.97. That means it's marked for clearance and won't be coming back, and there's some screaming deals right now.