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Global Wine Production Slumped To A 60-Year Low In 2017

According to the International Organization of Vine and Wine, global wine production only hit 250 million hectoliters in 2017.
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Global Wine Production Slumped To A 60-Year Low In 2017

Wine production around the world has sunk to its lowest levels in decades. And that means the price of your favorite vino might go up.

According to the International Organization of Vine and Wine, global wine production only hit 250 million hectoliters in 2017 — down 8.6 percent from the previous year.

The organization told Reuters that's the lowest level in 60 years.

Unfavorable weather conditions in the European Union are largely to blame for the low output. 

Top wine producers like Spain, Italy and France experienced droughts and hotter-than-average temperatures during the summer. 

According to CNN, producers, dealers and retailers will take the brunt of the price hikes caused by the wine shortage.

But analysts told the outlet consumers will end up shelling out more cash, too, especially if their favorite bottles are on the cheaper side.