Cost of Spanish wine sure to rise this year

Cost of Spanish wine sure to rise this year

01/02/2018 18:39
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SPAIN’S production of wine last year, down 20% compared with the 2016 figures, will almost certainly lead to price increases.
The Agriculture Ministry reports that the total wine produced in the current 2017-18 vintage stands at 35.6 million hectolitres, compared with 44 million in 2016, which is a 19.6% drop.
Overall, 2017 production is 19.6% lower than the previous season, and 17.6% lower than the previous six seasons’ average.
A Ministry statement said: “The declarations confirm a campaign of relatively low production, which, together with the low productions of the main wine countries of the community, suggests a price increase in the market.”
The latest figures follow what has been a challenging year for producers throughout Europe, with late spring frosts and a widespread drought, as well as a heatwave then affecting large swathes of France, Spain and Italy.
The price rise comes as a blow to wine-drinkers, but the European Commission said last October that it expected European production to be at a 36-year low.
Figures predicted then that Italy would suffer a 23% drop, France 19% and Spanish production 15%. The latest figures from Spain’s Ministry of Agriculture, however, push that estimate to 19.6%.

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