Disaster strikes… the price of wine is going up!

11 months ago written by

We can all live with the petrol price going up – again! But this is unacceptable. FFS, the price of wine – worldwide – is about to go ballistic!

BusinessTech reports global wine production has dropped to the lowest point in decades, with world-wide yields expected to drop a further 8.2% this year (2017), following “climate hazards” in many of the main producing countries.

The latest Global Economic Vitiviniculure report by the International Orginisation of Vine and Wine (OIV), which was released this week, found this year’s world wine production is estimated at 246.7 million hectolitres (mhl), a fall of 8.2% compared with 2016’s 268.8mhl – one of the lowest levels in several decades.

“This drop is consecutive to climate hazards, which affected the main producing countries, particularly in Europe,” the group said.

In the European Union (EU), extreme weather events – from frost to drought – significantly impacted 2017 wine production, which was historically low. The forecasts of the three main producing countries saw a decrease compared with 2016 production, OIV said.

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