Wine 85846255

California wine is about to get more expensive.

Silicon Valley Bank, which provides the wine industry with commercial banking services, predicts the fine wine business will see sales growth of 7 to 11 percent this year amid a looming grape shortage.

“I think the consumer for the past five years has been used to getting really fine quality wines at a good price,” said Rob McMillan, founder of the bank’s wine division. “But as the balance evens out, you can’t expect the producer to sell at a loss, which is really what they were doing.”

There’s a business opportunity here.

Photo by Christian Delbert/ShutterStock.

Originally posted by Dane Carlson on July 20, 2014 in News.

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