Lowest wine production in more than sixty years due to poor harvests around the world | Economy
Worldwide wine production this year reached its lowest level in sixty years. The OIV says the weather has been bad in some European countries, and crops in the Southern Hemisphere have been disappointing.
Based on information from 29 countries, which together account for 94 percent of global production, between 241.7 million and 246.6 million hectoliters of wine will be produced this year. One hectoliter is equivalent to 133 standard bottles of wine.
That would be a 7 percent decrease compared to 2022. Last year, below-average wine was actually produced. Wine production last fell in 1961. Then 214 million hectoliters of wine were produced.
In the wine countries of Australia, Argentina, Chile, South Africa and Brazil, wine production will fall by 10 to 30 percent from last year, the OIV predicts. In the United States – the world’s fourth-largest wine-producing country – 12 percent more wine is expected to be produced than last year.
In Europe, harvests were disappointing in Germany, Spain and Italy, according to figures released by the European trade club Cuba-Cogeca in October. Less wine was produced there than last year, partly due to drought and floods.
France overtakes Italy as the largest producer in Europe
In France and Portugal, more wine went into barrels. Because the harvest in France was not too bad, that country overtook Italy as the largest wine producer in Europe seven years later.
The expected wine production in France this year is 45 million hectolitres, an increase of 1.5 percent over last year. In Italy, production is likely to reach 43.9 million hectolitres, 12 percent lower than last year.
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