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  • Writer's pictureBy The Financial District

Aussie Farmers Rip Out Millions Of Vines Amid Wine Glut

Millions of vines are being destroyed in Australia and tens of millions more must be pulled up to rein in overproduction that has crushed grape prices and threatens the livelihoods of growers and winemakers, Peter Hobson reported for Reuters.


Falling consumption of wine worldwide has hit Australia particularly hard as demand shrinks fastest for the cheaper reds that are its biggest product.



Falling consumption of wine worldwide has hit Australia particularly hard as demand shrinks fastest for the cheaper reds that are its biggest product.


The same holds true in China, the market Australia has relied on for growth until recent years. The world's fifth-largest exporter of wine had more than two billion liters, or about two years' worth of production, in storage in mid-2023, the most recent figures show, and some is spoiling as owners rush to dispose of it at any price.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

"There's only so long we can go on growing a crop and losing money on it," said fourth-generation grower James Cremasco, as he watched clanking yellow excavators strip out rows of vines his grandfather planted near the southeastern town of Griffith.


About two-thirds of Australia's wine grapes are grown in irrigated inland areas such as Griffith, its landscape shaped by vine-growing techniques brought by Italian migrants arriving around the 1950s.




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