Wine Prices to Rise as Global Production Hits an All Time Low

2017 wine prices in the upcoming year are predicted to rise quite a bit, as the production of wine has his an all-time low. International Organisation of Vine and Wine released that production is down over 8% from last year (2016). These numbers were last seen in the 1950’s!

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This past year was a rough one, with poor weather conditions including abnormal frost, storms, and a draught. According to the European Commission, Italy’s prices have risen 74% and Spain is up 45%!

New world countries on the other hand have not been hit as hard. America, Argentina, Chile, Brazil, and South Africa have remained stable.

Start saving a few bucks here and there so we can splurge on some wine later!!!

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