Daily Management Review

Fall In Global Output Of Wine Following Bumper Production In 2018


10/31/2019




Fall In Global Output Of Wine Following Bumper Production In 2018
A leading international body in the wine industry has said that there has been about a 10 per cent drop in wine production across the globe in the current year as the most unfavorable weather conditions hit the major wine producing countries of France, Italy and Spain.
 
The global output was 263 million hectoliters (mhl), said the International Organisation of Vine and Wine (OIV) on Thursday in its first estimate for this year's global wine production.
 
However it is not all bad news for wine lovers. According to the OIV, this drop in wine output from the 294 mhl achieved in 2018 is not as bad because the current production level is about the normal average rate of production and 2018 was a bumper tear for wine production across the world.
 
The two largest producers of the European Union are France and Italy and both the countries recorded a drop of 15 per cent in production. There was a 24 per cent drop in the wine output of Spain. The OIV said that wine output in the current year for all of the three countries was below their five-year average.
 
"This can be explained mainly by aleatory weather conditions, notably a very cold and rainy spring followed by an extremely hot and dry summer," it said.
 
About 60 per cent of the total wine produced in the world is accounted for by producers in the 28-nation European Union and in the current year, production in the region was 156.0 mhl which is 26.7 mhl lower than what was achieved last year. About 80 percent of the total EU output is accounted by France, Italy and Spain.
 
The output in the United States was however better. Initial estimates of wine production in the country, according to the OIV, wad down by only 1 per cent year on year. The body however added that the estimate could re revised later on in the next few months.
 
The OIV estimates showed that there were also drop in wine production in the southern hemisphere even though the total output was more or less in line with the five-year average production. Production drop of 10 per cent and 7 per cent was reported for Argentina and Chile respectively –the countries are the two largest wine producers of wine in South America.
 
In South Africa, which was hit by a devastating drought during the year, there was an increase in production of wine by 3 per cent year on year. However the country’s production of wine last tear – the comparable year for the 3 per cent rise, was very bad. Therefore the production in terms of volume was not very encouraging given the poor performance last year.
 
Juices and musts are excluded from the OIV's global wine production estimates, and those are based on information collected in 28 countries that account for almost 85 per cent of the global production of wine, the body said.
 
(Source:www.usnews.com)






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