Wine prices in Greece to go up due to climate change

After the olive oil hit record prices, it is the turn of Greek wine to join the chain of price hikes and follow the same course. Production has dramatically dropped, costs are rising and price increases at the shelf seem inevitable, media report in the last 24 hoursProducers say that costs have risen dramatically and the quantities available are less than ever in recent years. These two factors point to what is yet to come regarding the prices of white, red and rose nectar.The International Organization of Vine and Wine (OIV) speaks about an important problem faced by Greece, Spain and Italy.According to OIV, the outlook for the wine production in Greece is bleak, point to a 45% plunge in production in the 2023 season.This is a new shock for producers as well as for consumers, which creates conditions for less market adequacy and higher prices, either due to real conditions or due to speculation.It is indicative that the reduction in olive oil production this year has already ...