The weather is picking new winners and losers in the wine world. Annual wine output last year was up in Argentina, Australia, and South Africa, but down in France, Spain, Italy, Germany, Chile, and China.
The net result is that global wine production dropped to a 60-year low.
World wine production fell by 9% last year, to 25 billion liters (enough to fill 33 billion bottles). The last time annual production was so low was way back in 1957, at 17 billion liters. Wine consumption continues to grow at nearly 2% annually. Read More