A severe frost wiped out up to 20% of Chile’s wine grape crop for the coming 2014 harvest – which some analysts view as good news as it will bring balance back to Chile’s wine industry. Chile saw a bumper crop in 2012 followed by a second in 2013 which equaled 12.8 million hectoliters or 3.6% larger than even 2012. The reduction in supply in 2014 will help bring back into balance supply and demand within the industry. Helping the situation Chilean wine exports increased by 33% by volume and by 7.3% by value between January and July 2013 however because of the excess supply price has fallen by 21% over the same time period.
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