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According to the International Organisation of Vine and Wine (OIV), this year's global wine production is at its lowest level for 60 years. This was announced by the intergovernmental organisation at a press conference in Dijon. It assumes an estimated volume of between 242 and 247 million hectolitres. The average estimate of 244 million hectolitres would therefore be seven per cent below the already below-average volume of the previous year. However, the estimates should be interpreted with caution, as some producing countries have not yet provided any data.
In the EU, production volumes are expected to be eight per cent below the five-year average. Italy (-12%) and Spain (-11%) in particular recorded a significant decline compared to 2022, making France the world's largest producer with a production volume slightly above the five-year average. In Germany, the fourth-largest European producer country, the OIV expects a slight increase of one per cent to nine million hectolitres. While the USA is expecting production volumes to increase by twelve per cent, countries such as Australia, Argentina, Chile, South Africa and Brazil are forecasting lower volumes due to problematic weather conditions. According to the OIV, extreme weather conditions such as early frost, heavy rainfall and drought have also had a significant impact on wine production this year.
However, the global decline in wine consumption and high stock levels mean that the lower production volume is more likely to bring the world market back into balance.
(ru / OIV)