Chile hit by early frost will push prices up

Chilean wine prices are expected to rise after an early frost hit vineyards two weeks ago with freezing temperatures for eight consecutive days. A state of emergency was declared by the ministry as the worst frost in decades hit crops, particularly Chardonnay and Pinot Noir. Less affected were Merlot and Cabernet Sauvignon. It is estimated the Chilean wine industry will be £37 million worse off and that the price of bulk wine is already increasing. Wine is one of the top export markets for Chile generating around £1 billion of income each year.