- Wine production is expected to fall by eight per cent to around 24.7bn litres
- It could mean a glass of your favourite white, red or rose is noticably pricier
- Experts are blaming extreme weather conditions in France, Italy and Spain
For those who enjoy winding down in the evening after a stressful day with a glass of wine, this may sour the grapes somewhat.
Prices of the tipple could be about to rise as global wine production is expected to fall to its lowest rates in more than 50 years.
This year, the world’s total output of wine is projected to fall by eight per cent to about 24.7billion litres.
The International Organisation of Vine and Wine has said the drop in wine production was down to extreme weather conditions in France, Italy and Spain.
This year, the world’s total output of wine is projected to fall by eight per cent to about 24.7billion litres, which could send the price of your favourite bottle of wine shooting up
The fall in production could result in surplus stocks created by the financial crisis being wiped out.
The group estimates that wine production will fall by 23 per cent in Italy, 19 per cent in France and 15 per cent in Spain.
However, for regions outside Europe, the group are predicting a more promising harvest.
Wine production is set to rise by a quarter in Argentina and six per cent in Australia.
However wine production in America – the world’s fourth largest wine producer behind Italy, France and Spain – should only see a fall of one per cent as many of the producers in California had reportedly already harvested their grapes before the areas were struck by wildfires.
The International Organisation of Vine and Wine has said the drop in wine production was down to extreme weather conditions in France, Italy and Spain