A smaller than expected harvest of grapes in Chile will push domestic wine prices around 10% higher, a key industry figure has suggested.
The vice president of winery Concha y Toro, Rafael Guilisasti, told the local press that bad weather had reduced the grape harvest by around 20% compared with last year, although exact figures will only become available in mid-June.
Giulisasti said this would push costs higher for Chilean wine producers, who are expected to raise the prices they charge the domestic market in response. But he said Chilean exporters were unlikely to follow suit because of strong competition from Australian and Californian producers.