Drought and dry weather has led to heat damage to vines in key European growing regions, with Spain’s grape harvest this year expected to be 40% down on 2011. Italy’s harvest meanwhile, is estimated to be 8% lower than last year, with some forecasters predicting it to be the country’s second smallest harvest since 1950. Producers in New World countries such as Australia and New Zealand have already upped their wine prices due to poor 2012 harvests, and... read on