Australian farmers destroy millions of vines due to wine glut and falling global consumption.
Australian farmers are destroying millions of vines due to a wine glut that has crushed grape prices. Overproduction and falling global wine consumption, particularly in China, have led to stockpiles of more than two billion liters, with some wine spoiling as owners rush to dispose of it at any price. The world's fifth largest exporter of wine, Australia, has seen demand shrink fastest for its cheaper reds.
March 09, 2024
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