The U.K. Wine Industry is seen as a 100-million pound sector that will thrive in warmer weathers brought about by climate change. Well, so long as investors carefully site vineyards and prepare for some poor harvests because of drastic changes within the weather. This is the conclusion brought about by scientists located at the University of East Anglia and the report was found in a paper published recently. The report finds many British vinegrowers may be overestimating certain risks involved that global warming imposes to the budding business industry.
The U.K. Wine Industry Still Needs to Know the Risks Involved Pertaining to Warmer Climates
About two-thirds of the U.K. Wine Industry do think that climate change poses an imminent threat to their business. This is about the same ratio as to those who think it has already assisted in boosting their production. This is in accordance to a report that was published in the Australian Journal of Grape and Wine Research.
Alistair Nesbitt, the study’s leading author, stated the following in an interview: “Average temperatures that make vine-growing more viable are increasing.” He also stated that the United Kingdom has been warming faster than the global average since the year 1960. It is even found that the U.K. experienced eight of the hottest years since 2002.
These higher temperatures have been a key component with regards to the U.K. Wine Sector. In fact, it caused a 148-percent growth of vineyard areas between the years 2004 and 2013. Other key components that led to the growth of the industry were better marketing procedures and increased consumer appetite within the U.K., especially when talking about locally produced wine. Even though wine has been produced in Britain for more than a thousand years, there are recent notable improvements in wine-creating techniques and grape selection that has led the sector to flourish.
The downside, however, of climate change are less apparent. Warmer weather can also bring heavier rains when the time comes. This can have the possibility of vineyards yielding heavy damage as what researchers have found. As an example, Nyetimber vineyard in England was forced to abandon its harvest back in 2012 because if heavy downpours during the flowering season.
For those looking for investing within the U.K. Wine Industry, studies show two important messages to achieve pleasant results. One is that the vineyards need to be chosen carefully, and the other vital information that should be noted is that the business plan should also include weather shocks.