The price of wine is dropping fast

National

FILE – In this Oct.3 2019 file photo, wine bottle are seen in a wine shop in Paris. Speaking at China International Import Expo, French President Emmanuel Macron announced an agreement between the European Union and China about the mutual protection of food and alcohol products, to be formally signed on Wednesday. Amid 26 protected French products are the Champagne, wines including those from Bordeaux and Burgundy regions, Cognac liquor and some cheeses like Roquefort. (AP Photo/Kamil Zihnioglu, File)

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.

MORE HEADLINES:

For more local news, download the MyStateline app (iOS) or (Android).

Follow us on Facebook, Twitter, YouTube and Instagram!

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories