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Wild weather negatively affects wine production

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Due to extreme weather, global wine production is projected to slip 5 percent this year, according to the International Organization of Vine and Wine.

That makes 2016 one of the worst years in wine since the start of the century.

"With global warming, we're witnessing an increase in exceptional events that are more frequent, longer lasting and of greater scale," said Jean-Marie Aurand, the head of the OIV.

For example, unusually heavy rain caused by the El Nino climate pattern is affecting grape output in key South American nations including Chile and Argentina.

Read more from CNNMoney.

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