Italy Wine Report 2023: Challenging Season for Italian Producers

게시됨 2023년 11월 10일

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Italy, the largest wine producer in the world, produced 49.8 million hectolitres (mhl) of wine from the 2022 harvest. However, the 2023 harvest is estimated to be 43.9 mhl, 12% below 2022 and 13% below the five-year average. The primary reasons for this decrease is heavy rain, flooding, wildfires, windstorms, and hailstorms which characterized the 2023 Italian growing season. If this estimate is realized, Italy will lose its title as largest wine producer to France.

However, this provides Italy with the opportunity to reduce its wine stocks which have increased by 11% over the past and are up 4.5% from 2022, creating an oversupply problem for Italy. Although the 2023 harvest is providing a momentary reprieve, Italy will continue to face oversupply situations in the future. This is a concerning scenario for the Italian wine industry which is facing declining domestic consumption as well as a shrinking global wine market. Crises distillation can provide a short-term solution to the oversupply problem, but Italy will likely see a reduction in the area under wine grape production in the coming years to reduce the oversupply issue in the long term.