Global wine production is predicted to decline to its lowest level in six decades in 2023 due to poor harvests in the Southern Hemisphere and some major European wine producers, according to the International Organisation of Vine and Wine (OIV), Reuters reports.
The estimated wine production for 2023 is between 241.7 million and 246.6 million hectolitres (mhl), a 7% decrease from the previous year, making it the lowest level since 1961.
Poor weather conditions and harvests have impacted both the Southern and Northern Hemispheres, including countries such as Italy, Spain, Australia, Argentina, Chile, and South Africa.
Italy is expected to see a 12% decrease in wine production and lose its title as the world’s largest wine producer to France. Spain retained its position as the third-largest wine producer, despite a 14% decline in output. However, US wine production, the fourth largest globally, is expected to increase by 12% in 2023 due to improved weather conditions in certain regions.
