AGAVE PRICE SINKS TO A NEW LOW

Similar to what Australian vintners have faced in recent years, an agave glut in Mexico is causing a crisis among local farmers. Seven years ago the plant responsible for making tequila was viewed as such a lucrative enterprise due to under-planting that most farmers and even non-farmers wanted a piece of the action. Now, prices are as low as $4 per agave plant after a prior peak of $70. The National Chamber of the Tequila Industry estimates that agave farmers