French Bulk Wine Prices at 18-Year High Advance for Sixth Week

French prices for bulk red wine, already at the highest since at least 1995, rose for a sixth week following two seasons of below-average production.

Bulk red and rose wine without a geographic indication rose to 70.90 euros ($97.33) for 100 liters (26.4 gallons) last week from 68.52 euros the prior week, data published online by crop office FranceAgriMer yesterday show. Prices have risen from 56.50 euros a hectoliter at the start of August and are up 7.5 percent from the same week a year earlier.

France’s wine production is estimated to rise 2.4 percent to 42.3 million hectoliters (1.12 billion gallons), still 6.8 percent below the five-year average, the Agriculture Ministry said last month. The estimate was cut from an initial July outlook for 2013 volume of 46.6 million hectoliters after grape rot added to hail damage and poor flowering.

The cost of bulk whites without geographic indication jumped to 80.72 euros a hectoliter from a restated 79.95 euros the previous week, according to FranceAgriMer data.

Prices of red and rose wine with a protected geographic indication and mention of the grape variety climbed to 76.69 euros a hectoliter from 76.11 euros a week earlier and 75.31 euros at the start of the season. Costs for white wine with the same criteria fell to 89.11 euros from 90.17 euros last week.

Trade in red and rose wine amounted to 384,462 hectoliters last week, while 174,028 hectoliters of white traded.