Australian wine is being sold off cheaper than water, as a glut of grapes pushes the cost of a bottle to below two dollars, reports Singapore's Today newspaper. Bumper harvests for three straight years have led to a massive oversupply and up to a billion litres of unsold wine is lying in storage tanks across the country.

Leading winemakers have seen their shares tumble and many grape growers could be forced out of business. But for the consumer, it means quality wines are available at a fraction of the normal price as producers move their excess stock in unlabelled bottles known as cleanskins.

"There are more wine bargains around than I have ever seen," said Shane Tremble, merchandise manager for liquor retailer BWS and industry veteran for 30 years.

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