Global wine production could fall to the lowest level in 60 years this year, according to industry estimates. As the International Organization of Vine and Wine (OIV) announced on Tuesday in Dijon, the volume in the EU is expected to be 8 percent below the five-year average.
In Germany, the fourth largest European production country, experts expect a slight increase. Italy and Spain recorded a significant drop compared to 2022 due to adverse weather conditions leading to mildew and drought. France will become the world’s largest producer by 2023 with volumes slightly above the 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 said. However, against the backdrop of declining global wine consumption and high inventories in many parts of the world, expected low production could restore balance to the global market.
According to average estimates, global wine production is expected to exceed 244 million hectoliters. This would be seven percent lower than the already below-average volume of 2022.
For the US, the first harvest forecasts indicate a production volume that will not only be above 2022 levels, but also above the average of recent years, the association explains. However, in countries such as Australia, Argentina, Chile, South Africa and Brazil, wine production is expected to be weaker than in 2022 due to unfavorable weather conditions. (sda/awp/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
