2023 Wine Bargains

As we enter 2023, consumers who are concerned about inflation or other financial matters of the moment may be thinking about the prices of wine and whether they are going up or down.

It has been at least three decades since there was any particular problem in terms of wine pricing, due in part to the nature of the industry, which relies upon the fact that grape-growing and winemaking today are better than they have ever been.

As a result, wine is better than ever and more reasonably priced, so we’re more likely to find good value as well as distinctiveness.

Ten years ago, if you bought a $10 bottle of wine it was likely to be drinkable and perhaps have some interesting elements. Today, on average, $10 gets you a much better wine.

Looking ahead to next year, however, still entails a bit of knowledge and watching a few trends. What follows is worth remembering when you’re shopping for decent value red and white wines.

Pinot Noir On The Rise

This light, delicate red wine grape has been widely planted throughout California over the last five or six years, and now that all that production is coming into wineries, an awful lot of wine that once was mediocre is better than it has ever been. And there’s a lot of it.

Although it’s true that you will probably have to pay $50 a bottle or even more to get classic examples, today it is possible to find extremely drinkable and interesting examples for about $20.

Also, a few bottlings are worth more than the $12-$15 wine stores are charging. You may have to try three or four different examples to find the style you like best, but values are surely there.

Australian Bargains

About a year ago, China and Australia became embroiled in a major trade dispute, one aspect of which was that China imposed outrageous tariffs on many Australian-made goods, including one of its most important exports, wine.

Within the last few days, the large Taylor’s Wines said the effect in the last year has been bad for its core business.

Managing Director Mitchell Taylor said his company has “a significant oversupply” of wine, based mainly on the tariff war.

“Overnight we were building up … and all of a sudden that market just got chopped off,” he told Sky News Australia. “We went from about $1.4 billion in exports to literally zero overnight.”

As a result, some wine experts are now suggesting that Australian wine, which once was a significant portion of the United States wine market, will return here in the form of lower prices ($7 to $11) for some wines from Southeastern Australia.

(For reference, the Australian dollar is worth only 67 U.S. cents.)

Bubbly Up

Americans seem to be fascinated with sparkling wines and the American wine industry has responded with increased production of this most festive product.

Moreover, Spanish cava and Italian prosecco are better than ever, and prices remain extremely fair, partly as a result of a decline in the value of the Euro.

Cabernet Still Strong

The devastating fires that hit California starting in 2017 and continuing through 2020, from region to region, caused an enormous decline in usable grapes. Smoke-tainted fruit couldn’t be turned into potable beverages.

However, the decline in production wasn’t particularly damaging because of the lower demand throughout the COVID-19 crisis. But then things turned positive.

The last two harvests in Northern California both turned out to be excellent in quality and with sufficient quantities that could be turned into excellent wine. There’s plenty of cabernet around that is now selling for $20 a bottle or less, and other red grapes add to the excitement.

Wine of the Week: 2020 Vara Garnacha, Vino Tinto ($15) — This fruit-driven medium-weight Spanish red wine has an aroma of fresh plums and jam and a trace of pomegranate. The wine is best served slightly chilled and works well with lighter-weight red meat dishes.