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California wines could hit their best value in two decades

Trader Joe's "Two Buck Chuck" wine returned to $2, and that was the canary in the coal mine. Because that's not the only California-produced wine whose price is dropping these days. California is currently seeing an unsustainably large glut of wine grapes. The overproduction paired with less people drinking wine has prices dropping. Experts say "US wine consumers will discover unprecedented retail value in 2020 and should buy up." These kinds of trends tend to be cyclical, and the industry is aware of the problem and looking to adjust. If millennials ever do start loving California vino, expect the current discounts to evaporate rapidly.

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