Sunday, 3 November 2019

Wine production dips; will prices rise?

The total volume of wine made around the world dipped by around 10% in 2019 compared to the bumper 2018 harvest. 

That could mean prices rise for wines from France and Italy, particularly.  

Analysts blamed the decline largely on unfavourable weather conditions, the Drinks Business reported. 
The International Organisation of Vine and Wine (OIV) said global wine production fell from 294 million hectolitres in 2018 to 263 million this year.

Production was down across the major wine regions of France, Italy and Spain, with France and Italy experiencing a slump of 15% and Spain a more dramatic 24% drop.

“This can be explained mainly by random weather conditions, notably a very cold and rainy spring followed by an extremely hot and dry summer,” the OIV said.

North America fared better, with the number of grapes going into the crusher only dipping by 1% on last year. 

The Australian wine grape crush for 2019 was a decrease of 3 per cent from the 2018 but just 1% below the 10-year average, Wine Australia figures showed. 

Production fell in Argentina by 10% and in Chile by 7%. Bucking the trend was South Africa, where volumes were up by 3% on last year after a run of smaller-than-average vintages due to drought. 

The OIV’s figures are based on data from 28 countries, representing 85% of world wine production.

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