Worldwide shortage of 1.3 billion bottles in wine as Europe experiences huge output slump

Capital Vintners' warehouse at Locke King, full of  fine wines 

It has been reported today that the world is facing a shortage of 1.3 billion bottles of wine this year, mainly due to the erratic weather across Europe. 

According to Bloomberg, the production slumps in France, Italy and Spain have led to worldwide shortage. And since the European harvest accounts for 62 per cent of worldwide wine production, this shortage is bound to have a serious impact on Bertrand Girard, the chief executive office of Groupe Val d’Orbieu, today said: “We’re short of wine. We've never seen that in three or four decades.” The global shortfall is expected to be over 250 million gallons. Even though wine consumption has steadily increased over the past decade, production has consistently fallen, according to data from the International Organisation of Vine and Wine.  

Here at Capital Vintners we know that a shortage in supply will push up demand for these fine wines across France, especially Bordeaux and Burgundy. With the Bordeaux region coming out a lot better than many other regions this harvest, the 2012 Grand Crus are bound to attract a lot of attention.