Some of it is the result of poor forecasting of demand, resulting in oversupply.
From the guardian.co.uk
The highly cyclical memory chip industry has suffered due to chronic oversupply.
From the chron.com
An oversupply of meat on the market and dropping restaurant demand has hurt too.
From the omaha.com
As supply hasn't changed that leaves us with an oversupply and shrinking demand.
From the economist.com
Some people say the worst of the oversupply problem is still about a year away.
From the courier-journal.com
The difficulty is that with the oversupply, only the best properties are selling.
From the thisismoney.co.uk
The oversupply led in turn to the development of the European art of scrimshaw.
From the en.wikipedia.org
Only a decade ago experts were warning against a potential oversupply of units.
From the smh.com.au
The oil market is well supplied and there is no oversupply, the minister said.
From the dailyherald.com
More examples
Flood: supply with an excess of; "flood the market with tennis shoes"; "Glut the country with cheap imports from the Orient"
Glut: the quality of being so overabundant that prices fall
In economics, overproduction, oversupply or excess of supply refers to excess of supply over demand of products being offered to the market. This leads to lower prices and/or unsold goods.