Significant wine price increase may come next year

Due to the shortage of wine and grape prices rise increases most of the wineries will increase their prices from 1 January. According to the analysis of Varga Winery a 15-20 percent price increase is expected.

The analysis points out that at the low-lying areas the winter and spring frosts destroyed half of the crop. The yield loss in the country can be around 50-60 percent.

This year, 2 to 1.5 million hectoliters of wine production is expected instead of the usual 3 to 3.5 million hectoliters. The sector’s loss will be around  60 billion HUF. (MTI)