With the festive season right around the corner, it might be the right time to start stocking up on booze, especially if you are a wine-lover. Reason being the amount of wine being produced in Europe is at a "historical low", according to HuffPost UK.
The International Organisation of Vine and Wine (OIV) on Tuesday said recent production levels of wine in Italy, France and Spain – three of the biggest wine-producing countries – were "very low."
Jean-Marie Aurand, the director-general of the OIV said this drop is "consecutive to climate hazards", which affected the main producing countries, especially in Europe.
This ultimately might have a snowball effect on countries with large grape harvests, such as South Africa.
The drought in Europe might be a blessing in disguise for South Africa's exports, but it could also be a Catch-22 as water restrictions in the Western Cape could ultimately affect wine production.
"We have enough water at the moment, our farms are quality producers; however, if the restrictions continue and we can't produce enough wine, we will be in a crisis," said Albert Nieuwoudt, a farm manager from Haskall Vineyards.
Experts expect to see an 8.2% annual decrease in the amount of wine produced globally by the end of 2017, with climate hazards cited as one of the main reasons.
With the wine shortage in Europe, demand for wine production in South Africa will be high and, ultimately, local producers will not be able to meet the demand. This might also result in wine prices shooting through the roof.
Only time will tell. Let's hope for the best, what is Christmas without some red wine...