The CNN is warning people that wine prices might go up due to a potential shortage. This is because this year has seen a ‘disastrous harvest’, due to awful weather conditions.
European vineyards had to deal with many hailstorms and frosts in the spring. Many vineyards in Burgundy were forced to buy large fans and heaters to keep their grapes alive. The crops that weren’t destroyed in spring were subjected to severe summer droughts. This extremely warm weather caused some of the grapes to ripen early, with most of them being smaller than usual.
Meanwhile, California, the world’s fourth largest producer of wine, have been experiencing mass wildfires. The smoke from these fires could have destroyed or tainted the grapes. As of yet, how harmful these fires have been to the grapes hasn’t been calculated.
Spain, Italy and France, who together make over half the world’s wine, may have their worst harvests in decades because of this weather. This lack of wine will make it more expensive by 2018. This will be especially noticeable, according to Stephen Rannekleiv, a global beverages strategist, ‘…in the lower-priced tiers.’ Say goodbye to cheap Aldi wine.
The European Commission said that this year’s harvest is expected to be the worst since 1982. The amount of wine that will likely be produced this year will be a 14% drop from last year.
Italy, the world’s largest producer of wine, will have volumes drop 21%. Wine production in Spain and France will go down by 15%.
Luckily, wine producers usually make more than they sell in other years, so they have a surplus stash of wine. However, this surplus won’t last forever. While we’re likely not at any immediate danger of losing wine entirely, wine will be in higher demand because of this shortage, and the need of producers to dip into the surplus. That means wine will probably be more expensive from now on.