I’d be surprised if the wine is even as high as £0.70 for some of the larger bulk wine makers. Considering Gallo alone produce about 3% of the world’s annual wine supply, the economies of scale for their lower end stuff should give them far lower production costs. Two buck chuck was/is profitable after all, even if they charge a bit more than two bucks nowadays.
I’d be surprised if the wine is even as high as £0.70 for some of the larger bulk wine makers. Considering Gallo alone produce about 3% of the world’s annual wine supply, the economies of scale for their lower end stuff should give them far lower production costs. Two buck chuck was/is profitable after all, even if they charge a bit more than two bucks nowadays.