Very low global wine production expected

08-Nov-2023

According to an industry estimate, global wine production could fall to its lowest level in 60 years this year. As the International Organization of Vine and Wine (OIV) announced in Dijon on Tuesday, production volumes in the EU are expected to be eight per cent below the five-year average.

In Germany, the fourth largest European producer country, the experts expect a slight increase. Italy and Spain recorded a significant decline compared to 2022 due to unfavorable weather conditions that led to mildew and drought.

France will become the world's largest producer in 2023 with a volume slightly above its five-year average.

Once again, extreme weather conditions such as early frost, heavy rainfall and drought had a significant impact on wine production, the OIV announced. However, against the backdrop of falling wine consumption worldwide and high stocks in many parts of the world, the expected low production could restore the balance on the world market. According to an average estimate, global wine production is expected to be more than 244 million hectoliters. This would be seven percent below the already below-average volume of 2022.

For the USA, initial harvest forecasts indicate a production volume that will not only be above the 2022 level, but also above the average of recent years, the association explained. In countries such as Australia, Argentina, Chile, South Africa and Brazil, however, wine production is expected to be weaker than in 2022 due to unfavorable weather conditions./evs/DP/ngu (dpa)

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