It might sound like a good problem to have - a glut of wine sloshing around local barrels.

But a decline in export markets and changes in consumer behaviour have left some grape growers ripping up their vines and exiting the industry altogether. 

In the latest development - one of Australia's largest wineries - Winemasters SA -  has appointed administrators following a failed sales bid.

• GUEST: Lee McLean, CEO of Australian Grape & Wine
• PRODUCER: Grace Stranger