If you like your Burgundy, you had better start saving.
For years, bouts of poor weather in the famous wine-making region (think rain, floods, and hailstorms), have been adversely affecting grape production.
Unfortunately for all you wine drinkers, less grapes means less wine. And less wine means more expensive wine.
According to Bloomberg the chardonnay grape harvest was down 30 percent in 2013, while pinot noir was down as much as 50 percent. In 2014, which reportedly had some of the worst weather, some winemakers lost a disastrous 90 percent of their crop. 2016 is already looking to be worse – April saw the worst frost in the region since 1981.
What’s the solution?
Bloomberg suggests buying strategically, “go for basic Bourgogne rouge and blanc from famous names, and buy village level Burgundies, especially those labeled vieilles vignes (old vines).”
Also, pay attention to the exchange rate. Right now, the dollar is good and strong against the euro, so stock up.