It’s more than just Northern California that is going to see tighter supplies in wine production for 2017.
Steve Rannekleiv, Rabobank global sector strategist for beverages, said there have been challenges worldwide.
“The big that’s really kind of moving the needle this year has been low production across France, Italy and Spain. We saw a hard frost in early spring that did some damage. You had extreme temperatures, drought and in some place, hail.”
That means there will be less wine coming out of 2017’s crop.
Rannekleiv said it’s been an unprecedented year.
“It’s not uncommon for Italy, or France or Spain to have an off year, but for the three of them together that’s fairly unusual and you look at it and those three countries combined represent something like 50 percent of global production.”
Rannekleiv said the fact that those three countries are down has sent reverberations throughout the industy.