US EditionGlobal wine production falls to 62-year low in 2023
- Global wine production is expected to hit a six-decade low in 2023 due to extreme weather events, with a 7% decrease compared to the previous year. Italy's wine production is projected to drop 12%, causing it to lose its position as the world's largest producer to France. Spain will experience a 14% decrease in output, the lowest in 20 years.
- Lower yields and poor weather conditions in the European Union resulted in a 7% drop in wine production, marking the third lowest level in the past century. However, US wine production is predicted to increase by 12% this year, thanks to favorable weather conditions in Napa and Sonoma regions.
- Falling global demand may help balance the wine market and prevent a drop in prices, despite the decline in production. The decrease in consumption levels, particularly in China, is expected to counterbalance the impact of low production.
48 Articles
48 Articles
Global wine production hits lowest level since 1961
PARIS, France -Global wine production has fallen this year to its lowest level since 1961 as vineyards were pummeled by extreme weather events, the International Organization of Vine and Wine (OIV) said Tuesday. Output reached 244.1 million hectoliters, down 7 percent from last year, the intergovernmental body said as it presented its first estimates. “Once
Sipping with sorrow: Wine output drops to 1961 levels
In a stark reminder of the unpredictable nature of agriculture, the global wine industry is facing its toughest challenge in decades. The International Organisation of Vine and Wine (OIV) has predicted a 7% drop in global wine production in 2023, taking it to a level not seen since 1961. The global picture
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