PARIS, Nov 12 (Reuters): World wine production is expected to fall to its lowest level in 60 years in 2023 due to poor harvests in the Southern Hemisphere and in some major European producers, the International Organisation of Vine and Wine (OIV) said last week.
In initial projections, the OIV pegged world wine output, excluding juices and musts, at between 241.7 million and 246.6 million hectolitres (mhl), with a mid-range estimate of 244.1 mhl.
This would be 7 per cent lower than last year and the smallest since 1961 when it had fallen to 214 mhl, the OIV said. A hectolitre is the equivalent of 133 standard wine bottles.
"This negative scenario can be attributed to significant declines in major wine-producing countries in both Hemispheres," the OIV said in a statement.
"While in the Southern Hemisphere, Australia, Argentina, Chile, South Africa, and Brazil recorded year-over-year variations between -10 per cent and -30 per cent, in the Northern Hemisphere, Italy, Spain and Greece are the countries that suffered the most from bad climatic conditions during the growing season," it said.
World wine output to fall to lowest in 60 years
FE Team | Published: November 12, 2023 21:52:43
World wine output to fall to lowest in 60 years
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