Cheap wine may start to get more expensive as production drops
FOX NEWS - Your favorite go-to cheap wine may start coming with a higher price tag, as global wine production has dropped to its lowest level since 1957.
The International Organization of Vine and Wine reported the 2017 harvest manufactured 25 billion liters of wine, a drop from the 26.7 billion produced in 2016 and 27.6 in 2015.
The reason for the fall is due to weather conditions from 2017. Italy, the world’s largest producer of wine, experienced a 21 percent fall in 2017. Other large producers in Europe such as France and Spain also saw large drops in 2017 due to hail storms and cold weather. South Africa, another producer, was hit with a drought that affected the vineyards.
Meanwhile in the U.S., California experienced devastating wildfires that destroyed much of the harvest.