Despite challenging weather conditions leading to poor harvests in key European wine regions, consumers are unlikely to see significant price hikes for wine. This assurance comes from Peter van Houtert, President of the Royal Association of Dutch Wine Merchants (KVNW), who stated, “I am not worried that prices will double.”
France and Germany, major European wine producers, have faced adverse weather this season. German winegrowers anticipate their smallest grape yield since 2017, while French regions renowned for their wine, including Champagne, Burgundy, and Beaujolais, expect one of the weakest harvests in recent years.
Van Houtert noted, however, that the wine market benefits from last year’s abundant production in 2023, which can help offset this season’s shortages. Additionally, he highlighted that wine production is now global, with significant supplies from South America, South Africa, and Chile, where growers were less affected by these conditions.
“In the broader market, consumers will still have plenty of options to purchase wine within their preferred price range,” Van Houtert assured.
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