It had to happen, but not for as long as some people expected. Red wine prices are set to fall. Although this should come as no surprise to OnWine readers, Australians will experience a short-term reduction in wine prices while the highly publicised wine surplus peaks and falls. Don’t expect your favourite brand to get any cheaper. Instead, look for the continued introduction to the market by the large companies of new brands priced more competitively. If the last 12 months is anything to go by, most of these brands will over-deliver in quality terms in a bid by their company to retain market share. Whatever happens once the red wine surplus evaporates is anyone’s guess, but don’t grow old expecting the quality to stay the same. The Australian Wine and Brandy Corporation also agrees with OnWine that white wine prices may increase. We’re seeing that happen with riesling, but chardonnay may follow, since recent plantings have been thin on the ground.
