21 Hrs
Source:
Los Angeles Times
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California wine glut lowers prices at major retailers
The article discusses a surplus of high-quality wine in California, leading to significant price discounts on premium bottles sold under private labels at major retailers. This oversupply, driven by slowed consumption and industry imbalances, results in wines typically costing hundreds of dollars being available for under $30, with some even below $10. Winemakers and buyers describe the increasing quality and decreasing prices, highlighting a cyclical correction underway as producers reduce yields and sell excess stock through private labels or bulk sales.
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