Wine Prices to Increase by 20%

If you like the occasional glass or in my case bottle of wine you might want to stock up now as prices are set to rise 20% following a poor harvest in 2017.

While shopping in Mercadona the other day I noticed that a bottle of their cheapest wine Vino Tinto Joven, Fidencio, had risen in price from .99¢ to 1.20€.

Thinking at first that Mercadona was just raising their prices because they could I looked into and found that all European wines are set to go up in price.

The Spanish agriculture ministry has reported that the 2017/2018 vintage of 35.6 million hectolitres is down by 8.4 million compared to 2016, a drop of 19.6%.

“The declarations confirm, therefore, a campaign of relatively low production, which, together with the also low productions of the main producing countries of the community, has supposed a price increase in the wine market,” a statement from the ministry said.

It is not only Spain which has suffered due to high temperatures but the rest of Europe as well with both France and Italy reporting a 36-year low in wine production.

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