Bad news for winos! Due to the declining supply of grapes, vintners are expected to start raising prices. If you’ve ever entertained the thought of starting a wine cellar, now is the time to stock up.
According to Silicon Valley Bank, a commercial banker to the wine industry, grape inventories are evolving into a state of shortage that will last for some time. As for sales, SVB predicts to growth at 7% to 11%, a bit of a drop from 2011.
They also report a decline in “wine quality for the price paid.” Wine drinkers will be forced to decide whether to put up with lesser quality domestic wines, or pay higher prices and expand their foreign tastes.