The wines of the Burgundy region of France have long been considered some of the best in the world by collectors and casual sippers alike. But after an onslaught of environmental calamities, winemakers warn that a Burgundy "apocalypse" is coming, Elin McCoy writes at Bloomberg Pursuits.
Burgundy buyers have likely noticed prices rising steeply since 2010, when a series of hailstorms and floods began decimating a area vineyards. The Côte de Beaune, home to many of the most famous vineyards in the world, has been hit hard.
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Now, as grape crop yields have hit new lows, winemakers are forced to raise prices higher and higher in order to survive. In 2014 alone, some vineyards lost 90 percent of their crop, and the outlook for 2016 is looking even worse. In April, the worst frost since 1981 hit Burgundy, potentially reducing the harvest by 40 percent. According to David Croix of the winery Domaine des Croix, the cost to grow his grapes has doubled since 2011, but the prices of his bottles have only risen 15 percent. For many growers, including Croix, this has meant flat-lined or even negative profits.