World wine production could fall to lowest level since 1961 in 2024

Published Dec 1, 2024

Tridge summary

The International Organization of Vine and Wine (OIV) has forecasted that global wine production is likely to reach its lowest level since 1961, with an anticipated drop of 2% from 2023 and 13% below the average of the past decade. This decline is primarily due to adverse weather conditions in key wine-producing regions around the world. Notably, France is expected to see a 23% reduction in wine production, while Italy is set to regain its title as the world's leading wine producer. The southern hemisphere, including Chile and Brazil, is also expected to experience significant drops. Despite these challenges, the OIV remains optimistic about the quality of the wine produced this year and emphasizes the importance of sustainability and adapting to climate change in the wine industry. Additionally, the industry is grappling with shifts in consumer preferences, leading to a projected decrease in global wine consumption in the first half of 2024.

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

Original content

Global wine production could fall to its lowest level since 1961 this year, due to adverse weather conditions in several parts of the world. The estimates were published last Friday (29) by the International Organization of Vine and Wine (OIV). "Climate challenges in both hemispheres are, once again, the main causes of this reduction in the volume of global production," explained the OIV, noting that most regions of the world were affected. According to projections based on data from 29 countries, responsible for 85% of production last year, global wine production in 2024 is estimated at between 227 and 235 million hectoliters (mhl), which represents the lowest volume since 1961 (220 mhl). If confirmed, these figures would mean a global drop of 2% compared to 2023 (237 mhl) and a reduction of 13% compared to the average of the last ten years. With 41 mhl, Italy regains its position as the world's largest producer, overtaking France, which had the largest annual drop among ...

Source: G1globo