The International Organisation of Vine and Wine (OIV) has disseminated its initial estimations for the year 2023, revealing a severe contraction in global wine output to 244 mhl. This represents a 7% contraction in comparison to the year 2022 and denotes the most acute decline within a 60-year timeframe.
In the Southern Hemisphere, the contraction is particularly pronounced, with production plummeting by 19% to only 45 mhl. This volume is the smallest recorded since 2003. All principal wine-producing nations within this region have reported considerable production declines, with figures varying from -10% to -30%.
Balancing the Global Wine Output
Despite a generally bleak forecast, current assessments from 29 wine-producing countries indicate a drastic slump in global wine production for 2023, from 247 mhl to 244 mhl, the lowest level in six decades. This sharp decrease arises from a combination of notably reduced harvests in both the Southern Hemisphere and various critical EU territories, exacerbated by extreme weather patterns such as early frosts, heavy rains, and relentless droughts. Nevertheless, considering the downward trend in global wine consumption and the high inventory levels in numerous areas, this year’s reduced wine production might serve to realign the global market.
Thanks for Reading!
Glad you dropped by! If the insights here struck a chord, why not share them? And if you’re eager to talk more, I’m all ears – just reach out. Looking for someone to spark inspiration in your masterclass or brand event? Let’s talk and set up something amazing.
Disclaimer
This text was neither commissioned nor compensated. It reflects exclusively my own opinion.
Challenging Year for French Wines & Spirits Exports 2023
In the year 2023, the French wine and spirits sector navigated through challenging waters to post exports worth €16.2 billion. Despite representing a 5.9% decline from the previous year, this figure stands as the second-highest in the industry’s export history. The volume of exports also saw a considerable reduction, falling by 10.4%. However, the sector managed to maintain its status as the leading contributor to France’s agri-food surplus and the third largest in the nation’s overall trade balance, with a trade surplus of €14.8 billion, down by 5.8%.
DWI Announces Winner of the Sommelier Cup 2024
The DWI Sommelier-Cup 2024, hosted by the German Wine Institute (DWI), concluded on January 22, 2024, with Katharina Iglesias from wineBank in Hamburg claiming the title. The event, held at the Atrium Hotel in Mainz, witnessed participation from 28 professionals across various sectors of the wine industry. While the competition’s popularity remains undeniable, a critical examination of its structure and outcomes reveals aspects worth contemplating.
German Wine Consumption Plummets in 2023
The German wine consumption and buying behaviour is changing. (Photo: DallE)
Ensuring Safe Seas for Bulk Wine Shipping
In the world of bulk wine shipping, grasping the intricacies of marine cargo insurance is crucial. This field, unlike more uniformly regulated insurance areas such as cars, lacks a standard policy format, leading to a diverse range of coverage options.
Bulk Wine Revolution: Balancing Profit and Planet
On the World Bulk Wine Exhibition (WBWE) in Amsterdam, leaders in the wine industry charted a path toward sustainability, aiming to reshape the sector’s future.
Exploring Consumer Perceptions of Wine Packaging
In the competitive landscape of the our industry, wine packaging plays a pivotal role in shaping this experience. It’s not just a vessel for storage
