BBC reported today that global wine production was way down this year. Extreme climatic conditions - such as early frost, heavy rainfall, and drought - have significantly impacted the output of the world's vineyards in both northern and southern hemispheres.
The International Organisation of Vine and Wine (OIV) says that wine production around the world is likely to be about 7% lower in 2023 than last year. Such a yield would be the worst since 1961.
However, since global consumption is declining, the expected low production could bring equilibrium to the world wine market. China has not reported its yield so the estimates are preliminary.
Wine production was down in almost every country in the European Union, which produces about 60% of the world's total. According to OIV, lower yields are due to heavy rains in some countries and droughts in others. Only France was unaffected, whereas Spain and Italy were down 14% and 12% respectively.
US production was up by 12% over 2022, but Australia and Chile were down 25% and 20% due to drought and wildfires. The only exception in the southern hemisphere is New Zealand with a 2023 production level above its five-year average.
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