Global wine production to fall significantly due to climatic events
The Dollar Business Bureau Global wine production this year is slated to decline to its lowest level in two decades due to various climatic events such as El Nino. According to The International Organisation of Vine and Wine (OIV), global wine production is projected to fall by 5% because of climatic events, resulting in sharp decline in production in most of the southern hemisphere, particularly Chile and Argentina. In 2016, the wine output is estimated to reach 259.5 million hectoliters (mhl), which is one of the lowest production years in the past two decades. While the amount of wine produced should meet the demand of the consumers, the figures are a reminder how global warming and natural climate variability are having a profound effect on wine, ...
