Wine brands in the US. PHOTO | CNN
Wine brands in the US. PHOTO | CNN 

Wine brands to drop their prices further as demand for wines drops. The supply of manufacturing commodities has increased. 

The price of wine is expected to drop globally to its lowest levels in five years thanks, in part, to an excess of California grapes.

Combined with a decreased demand for wine, drinkers can expect to get better value for every drop they drink this year. The cheaper prices may even last up to three years.

The President of Allied Grape Growers,  Mr. Jeff Bitter, told CNN that it's apparent for surplus grapes to make it to the secondary market, where they're used for brandy or as a grape concentrate. But that market doesn't generally provide endurable retrievals for growers.

"The main cause of oversupply today is the culmination of a few years of slowing wine shipment growth, with an ample 2018 wine grape crop as an exclamation point," Bitter said.

"Until 2015, wine shipments had grown, almost predictively, for two decades. The slowdown in growth has caught the industry by surprise.

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