Prosecco grapes experience a bumper crop

Italy just produced the biggest grape crop ever for Prosecco, a sparkling wine that set sales records in recent years.

Prices aren’t likely to drop anytime soon because vintners are stockpiling the surplus.

Nearly ideal growing conditions this summer led to bumper grape harvests across Italy, which is poised to overtake France as the world’s biggest wine producer. Vintners say they’ll need surplus product later because demand is skyrocketing.The Prosecco industry forecasts that global sales will jump 20 percent this year.

At about $12 a bottle, the wine has become increasingly popular among younger drinkers.

While production has more than tripled since 2009, the new vines take about three years to reach full harvest.

Bloomberg News

This story was originally published November 11, 2015 at 1:59 PM with the headline "Prosecco grapes experience a bumper crop."