Wine Shortage Is Pushing Prices Up

Wallets are getting squeezed more than grapes, says the Los Angeles Times.

Worldwide wine production was down 6.1 percent last year, the worst since 1975. And in the U.S., where more wine is consumed than anywhere else, sales hit a record high last year.

That’s driving up prices. Restaurant Sciences, a company that monitors food and beverage sales at restaurants, found per-glass wine prices increasing more sharply in some dining sectors than others, according to the Times:

  • An 8.4 percent jump in the price of wine at family dining restaurants, where the average meal is less than $40.
  • A 5.4 percent increase at high-end restaurants.
  • An increase of less than 2 percent at casual and upscale casual restaurants, in the $40 to $120 per-meal range.

The study included more than 5,000 restaurants, and said wine sales at eateries account for $289 million a year. (It doesn’t include wine sold at nightclubs, hotel restaurants, fast-food chains, or concession stands.)

Another industry research group, IBISWorld, pointed out other factors behind rising prices. Vineyards are still dealing with the recession’s effects, and there aren’t enough experienced workers to go around. There aren’t many programs to train them, either.

This year there could be a worldwide shortage of 1.3 billion bottles, the Times said. If you still want to drink, consider doing it at home with our story, “8 Tips to Find Good Wine for Less Than $10.”

Sign up for our free newsletter

Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.

Check out our hottest deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,216 more deals!

Comments & discussion

We welcome your opinions, but let’s keep it civil. Like many businesses, we reserve the right to refuse service to anyone. In our case, that means those who communicate by name-calling, racism, using words designed to hurt others or generally acting like an uninformed bully. Also, comments that include links to email addresses or commercial websites typically aren't posted. This isn't a place to advertise your business.