Global wine produce to fall by 5% due to 'climatic events'
According to International Organisation of Vine and Wine, 2016's global wine production is expected to fall by 5% due to "climatic events" like El Niño. Global wine output is estimated to fall to 259.5 million hectolitres, making 2016 one of the least productive years in last two decades. Argentina and Chile have been predicted to witness the biggest declines.