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by Cyril Penn | December 18, 2012 | 9:30 AM

Here’s a news release that caught my eye. It’s another sign that the wine industry needs grapes. I'd already heard rumors to this effect: A Madera County vineyard was auctioned off for $24,920 per planted acre – which has to be one of the highest prices per acre ever paid in California's Central Valley. The 144-acre vineyard evidently sold for $3.1 million.

So how does this pencil out?

The vineyard has averaged 12.2 tons of Chardonnay grapes harvested per acre over the past four years.
 

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