Too many grapes, not enough drinking lead to glut of wineries for sale

The winery and vineyard market is at a tipping point amid struggling sales, with an increasing number of sellers – from large corporates to smaller vintners – deciding to put their properties on the market, leading to subdued prices.

A surplus of fruit, the turn by younger people toward drinking less alcohol or none at all, and a surge in online wine sales – detracting from visits to cellar doors – are behind the oversupply of wineries and vineyards up for grabs, according to industry sources.

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