Cheap Wine May Be Getting More Expensive

Cheap Wine May Be Getting More Expensive The price of wine may be going up after the International Organization of Vine and Wine reported global wine production hit a 60 year low in 2017. Only 25 billion liters of wine were harvested in 2017, down from 2.6 billion in 2016 and 27.6 billion in 2015. As a result, the price for wine has already gone up in Europe, with the European Commision reporting prices in Italy going up by 74 percent. The wine companies that are targeting very low prices ... will be hit the worst, because their margins are very low. Wine production suffered after tough weather conditions in 2017 impacted key areas like South Africa, California and Europe.