World wine production could be at its lowest in 63 years

Published 2024년 12월 12일

Tridge summary

The 2024 wine production is projected to decrease by 2% from 2023 and 13% below the 10-year average, according to the International Organization of Vine and Wine. This would make 2024 the lowest global wine production since 1961, with key Southern Hemisphere countries and almost all EU countries experiencing significant declines. Only the US, Hungary, Georgia, and Moldova have seen average or above-average production due to favorable climatic conditions. The reduction in production is due to extreme weather conditions, reduced global consumption, and high stock levels.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Based on comprehensive data from 29 countries representing 85% of the world’s wine production, wine production in 2024 is estimated at 227-235 million hectoliters with an average projection of 231 million hectoliters. This is 2% less than in the poor 2023 harvest and a 13% drop compared to the 10-year average harvest. This positions 2024 wine production as potentially the lowest global production since 1961 (220 million hectoliters). This is stated in the first report for 2024 of the International Organization of Vine and Wine (OIV). It is specified that in the Southern Hemisphere, wine production in key countries has suffered a significant decline: Australia, Argentina, Chile, South Africa and Brazil have reduced production by 4-21% compared to their 5-year averages. Almost all EU countries have below-average harvests. France, the leading producer in 2023, has the largest drop in production. Only a small group of regions – notably the US and several Eastern European countries ...

Source: Agrotimes