Price of wine set to soar

Global wine output is heading for an an almost 20-year low as “climatic events” including El Nino severely hit grape production in many countries. Argentina is set to report wine production plummeted by more than a third this year – news that will worry fans of malbec, while Chile is on course for a 21 per cent drop. Brazil, less well-known for its wine, will see its output cut in half, according to the International Organisation of Vine and Wine (OIV).