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Wine glut causes financial hangover for vineyard owners
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Low prices, lack of demand and high costs are forcing many owners of hobby farm wineries to plough up their vines or create an outlet for their home-grown labels, agricultural specialists say. Sam Paton, a valuer with Agribusiness Valuations Australia, said dreams of creating a flourishing winery had routinely turned sour for a generation of vintners. "Most of them were city professionals, like lawyers, doctors, or dentists, with plenty of cash but little business savvy," Mr Paton said.