Shoppers may have to pay up to 30% more for popular wines like Pinot Grigio and Prosecco, thanks to some terrible, frost-ravaged 2017, according to a report in a national newspaper.
“We’ll start to see the 2017 wines coming to the market now and I think for higher volume, lower price wine you will see cost increases,” Berry Bros & Rudd’s chief executive, Dan Jago, told The Guardian.
“Prices for things like Pinot Grigio or generic Spanish reds will rise by between 10% and 30% and it’s a question of how much of that retailers will pass on. Prosecco was very hard hit by frost, so there will be less of it and the price will go up,” Jago added.
Last year global wine production slumped to a 56-year low following the perfect storm of late-spring frosts coupled with summer heat waves in key wine producing regions like France, Italy and Spain.
According to the International Organisation of Vine and Wine, global wine production dropped by 8% to 247m hectolitres last year. Production across Bordeaux was down by 40%, with St-Emilion worst hit by the frosts last year. The situation in Spain, wasn’t much better.
Richard Cochrane, managing director of Félix Solís UK said: “The harvest in Spain is down 30% on average and some producers might run out of wine. There is an enormous amount of bulk wine coming out of Spain and it remains the go to place during a wine shortage. South Africa is having a tough time with the drought, so the bulk wine from the southern hemisphere isn’t going to fill the void from Europe in the short term.
“The shortage will mean consumers will have to seek alternatives of wines they usually buy, which is not necessarily a bad thing as it means they will be open-minded about exploring wines from lesser-known regions,” he added.
The devaluation of the pound in the wake of the Brexit vote has also impacted on wine prices, which are up by an average of 4% year-on-year.
The WSTA reports that the average amount spent on a bottle of wine from October to December last year was £5.74.