My two cents: The first part "In an effort to reduce their inventories, Italian vintners have cut prices;" means in order to reduce inventories, vintners have cut prices second part "their wines are priced to sell, and they do" means vintners "set the wines' price at a competitive level try to" (the meaning of the idiom 'priced to sell') reduce the inventory. The price NOW is at a competitive level, which is a result of "have cut". and vinters NOW DO (sell their wines). So, it is trying to say as a result of the cut, the price are now at a competitive level and vinters do reduce the inventory. |