Champagne Wine prices could soar by up to 20% this year.
There are shortages in popular wines, including sauvignon blanc and burgundy, at off-licences and supermarkets.
Suppliers face increased competition, reduced supply and problems in their supply chains as they are forced to raise prices.
All major wineries, including those of burgundy or sauvignon blanc, are experiencing a shortage.
The harsh winter of last spring battered France and Spain’s vineyards.
French ministry of agriculture warned 2021 would be the most severe harvest since 1945, when vines suffered from frost damage and disease.
Tom Ashworth, chief executive at wine distributor Yapp Brothers, said: ‘The price rises will be steep. In some cases, it may be up to 20%. It’s quite significant given that inflationary pressures in everyday life are mounting.’
Yapp Brothers currently sells cases of burgundy ranging from £200 to £1,300, so a 20 per cent rise could mean an increase of between £40 and £260 respectively.
Due to rising demand, decreased supply and problems in the supply chain, suppliers will be forced into implementing price increases
The International Organisation of Vine and Wine also warned that global wine levels were ‘extremely low’.
According to the report, only four large EU wine-producing countries had harvested more than 2020, and they were Germany, Portugal (Ruma), Romania, and Hungary.
David Porter, a wine trader at Lea and Sandeman, added: ‘The harvest was catastrophic. Pinot Noir, Burgundy Chardonnay, Champagne and Burgundy are all in decline. Add in the shortages of bottles, corks and cardboard boxes and the pressure really is on the industry.’
Andrew Hawes, managing director at Mentzendorff, the UK’s major importer of Bollinger champagne, said: ‘People have wanted to drink more during the pandemic, but the supply isn’t available.
‘Throw in the supply chain issues and Brexit and it’s a classic squeeze.’