Wine prices ‘to rise’ after extreme weather
Global wine production is set to fall to its lowest level in 50 years after poor weather damaged vineyards in western Europe, the world’s largest wine-growing area.
Figures from the International Organisation of Vine and Wine (OIV) said global output was expected to drop this year to about 247 million hectolitres, down 8pc from last year. A hectolitre is 100 litres, the equivalent of 133 bottles.
The fall in production is likely to mean a rise in prices for the consumer.
In a report on its estimates for this year, the OIV said: “Extreme weather events – from frost to drought – significantly impacted 2017 wine production, which was historically low.” The world’s top three wine-producing countries – Italy, France and Spain – were all affected.
The biggest drop was in Italy, where output is predicted to fall 23pc.
The European Commission said earlier this month that the bloc’s wine grape harvest would shrink to a 36-year low because of spring frosts and summer heatwaves. (© Daily Telegraph, London)