Nooo! Not the wine! Anything but my precious wine! How am I expected to live and survive in this harsh cruel world without my wine?!
Sad to report that a global shortage will directly affect the price of a bottle of the good stuff at your local liquor store. Fox 61 reports that a series of unfortunate events created the perfect storm to inflate those prices sky high.
Fires in California, hailstorms and harsh frosts followed by a drought in Europe, not to mention the drought in South Africa… it caused those grapes to ripen early and grow smaller than average. Because of all this bad luck, it created weak harvests across the globe.
Meaning, the world only managed to pump out 25 billion liters of wine this year, as opposed to last year’s 26.7 billion liters. So, about a six percent drop in total global output.
Unfortunately, some places already reported seeing a stark rise in the price of their wine to offset the loss. Italy saw prices jump by 74 percent. In Spain, those costs jumped about 45 percent. In France, so far the average cost of a bottle went up by 10 percent.
The most heavily affected types of wines will actually be the cheaper stuff. So if you love buying your massive bottle of Merlot for $7 bucks, enjoy it while it lasts. Speaking from personal experience, here. Low Hanging Fruit… really good stuff.
Stephen Rannekleiv, a global beverages strategist at Rabobank, explains:
“The wine companies that are targeting very low prices … will be hit the worst, because their margins are very low. When prices go up, it puts a lot of strain on them.”
Also, quality might become a future issue. Meaning, your nice relaxing glass of red might not taste as delicious and refreshing.
“There will be, in some cases, lower quality wines getting blended into slightly higher value products, so everyone kind of goes down a tier in quality.”
Although California started becoming a well known destination for sprawling vineyards and tasty wines, Europe still holds the title as the world’s #1 provider. They account for 65 percent of global production and, amazingly enough, 57 percent of total consumption.
Yeah, and we thought America clinched that title long ago. Looking at you, Amy Schumer!
However, it’s not just the drinkers who will suffer from the shortage. Other industries will eventually feel the sting, too. For example: Brandy and vinegar makers will struggle since they use wine to create their products.
Then again, that’s child’s play compared to the mother who requires Pinot Noir to send her off to bed. Or, to the single girl who enjoys some Chardonnay with her bubble bath.
No matter what happens, this summer and into the next year will suck in terms of pricing.
Might want to find something else to drink until prices return to normal. Until then, better put more money aside into your dranks budget, especially for the holidays.
How will this global wine shortage affect you? Does it make you feel cold and lonely on the inside? Or is it about time that pompous fruit juice went down?