As the year draws to an end, it’s natural to want to look back on the highs and lows. Sadly, for 2017, I suspect that there are few connected with the wine industry who will remember the year with any great pleasure or affection. I’m thinking particularly of those growers in California, central Portugal and the Galicia and Asturias regions of northern Spain, all of whom have suffered such catastrophic fires in the last few weeks and months. I’m sure all Bristol Wine Blog readers will want to join with me in saying to those affected that our thoughts and good wishes for the future are with you.
But the year’s problems began months earlier. Damaging spring frosts then severe summer droughts reduced crop yields by almost a quarter in Italy and a fifth in France. And it was the same picture across much of Europe. Further afield, Argentina, though improving on 2016’s dreadful El Niño-affected harvest, still produced far less than its long-term average and Chile suffered a 2nd successive drop. Other major countries such as South Africa and, despite the recent fires, the USA look to have turned out quantities roughly in line with expectations. But, among the wine world’s top 10 producers, only Australia are really celebrating with their highest output since 2005.
As a result, based on current estimates, the volume of wine produced worldwide in 2017 is expected to be the lowest seen since the 1960s. So, should we expect prices to go up? Some rises are inevitable particularly where there are shortages of popular wines but it’s worth looking at the wider picture:
Overall, just about enough wine has been made this year so that, together with reserves that are already in stock, most of our demands should be satisfied. And, hopefully, 2018 will prove to be a happier year for both producers and drinkers alike.