Wine prices are dropping

To the lowest they’ve been in twenty years

Vineyards in Northern California began planting thousands of acres of new vines in 2016, and with more efficient harvesting methods, it has led to more bountiful harvests of grapes.

This sounds like a good thing, but too many unused grapes means a lot of waste. As a result, the good old laws of supply and demand have lowered the price of wine due to the newly increased supply of grapes.

What’s more is that it’s not just supply that has increased; demand for wine has also decreased. Following a shift in habits of many Americans from drinking wine to other forms of alcohol such as liquor, beer, and most recently hard seltzer products like White Claw, the demand for wine has reached record lows.

This is good news for those of us who still love wine. The price to value ratio has never been this good.

Analysts say these new price points should last for at least three years.

Today is National Drink Wine Day

National Drink Wine Day falls on February 18, but it is far from the only holiday that celebrates wine. Firstly, National Wine Day is on May 25, but for those who are looking for a more specific wine holiday, National Rosé Wine Day is on June 13, National White Wine Day is on August 4, and National Red Wine Day is on August 28. And if these aren't enough wine-based holidays to look forward to throughout the year, National Cheese and Wine Day is on July 25.