Low price wine at risk as global production sinks
Global wine production has sunk to its lowest level in 60 years according to the latest figures released by the International Organisation of Vine and Wine (OIV).
Weak harvests in regions like Italy, France, Spain, and California are to blame.
In Europe the main cause of this has been terrible weather.
Michael Quinlan of table and vine explained how the increase would occur.
“Suddenly, a wine that was maybe selling for $15 or grapes that were going to a $15 wine may get bought by a guy who needs them for a $20 wine,” Quinlan explained.
Though with all that said, all is well and good for the land down under, in fact its likely Australian wine regions will benefit from the northern hemispheres short comings.
CEO of wine Australia, Andreas Clark, said Australia’s bulk wine sector was trying to fill the enormous void it currently faced.
“The high quality of Australian wine plus historically low Northern Hemisphere harvests were driving the demand for Australian wine exported in bulk containers, leading to growth in both volume, and the total value of exported bulk wine.” Clarke said.
The Murray River Valley is a big winner.
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