Wine prices to increase after massive production drop - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Wine prices to increase after massive production drop

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(CNN) The price of wine is going up.

The "International Organization of Vine and Wine" reports last year, global wine production dropped to its lowest level in 60 years.

Analysts say producers, dealers, and retailers will absorb some of the price hikes, but consumers will end up paying more, especially for cheaper bottles.

However, one expert thinks cheap wine may see a change in quality along with the price hike.

He says that's because in some cases lower quality wines will get blended into slightly higher value products.

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