HENRIETTA, N.Y. (WROC) — Wine lovers are in luck- the price of wine is dropping fast. The State of the Wine Industry report predicts consumers will see the best wine prices in 20 years.
The reason for these good prices- there’s a surplus of grapes in California. Tom Kearney, a wine consultant at Marketview Liquor in Henrietta said in the next six months some midrange price wines are will start dropping in price.
“You’re gonna see a lot of new labels starting up that are going to be entry-level wines because there’s such a supply out there so they’re gonna sell it off for brandies,” said Kearney.
Kearney also said the number of people drinking wine isn’t as high as industry experts expected? He said the reason for that could be the variety of options in the market.
“I don’t think people are drinking less wine I just think they are more choices in the market like craft beer, canned cocktails, some people are going to liquor,” said Kearney.
The cheaper prices could last up to three years.
Andrea Colaruotolo-O’Neill, president, Casa Larga Vineyards, said this about the grape surplus in California:
“Wineries count on the support not just of tourists but of our local communities. The words “buy local” are more than a simple phrase. When people live them and really concentrate on buying local it has a big impact. When you buy local products from local businesses you are putting money right into your backyard. The growth of any local product is dependent on the consumers, and if wine consumers continue to adopt a buy local mindset, then wineries will be able to grow and continue to boost the economy in New York.”