EconomyLens.com
No Result
View All Result
Tuesday, June 17, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Global wine output to hit lowest level since 1961

Natalie Fisher by Natalie Fisher
November 30, 2024
in Economy
Reading Time: 5 mins read
A A
2
106
SHARES
1.3k
VIEWS
Share on FacebookShare on Twitter

Climate chaos is hurting global wine production, such as this September 2020 fire in California's Napa Valley. ©AFP

Paris (AFP) – Global wine production is set to fall again this year to its lowest level since 1961 due to climate change, the International Organisation of Vine and Wine (OIV) said Friday. Output is estimated to reach between 227 million and 235 million hectolitres in 29 countries accounting for 85 percent of global production, according to the intergovernmental organisation. If production reaches the midpoint of 231 million hectolitres, it would be down two percent from 2023 and a drop of 13 percent compared to the average of the 10 previous years.

Related

Spain says ‘overvoltage’ caused huge April blackout

Trump says EU not offering ‘fair deal’ on trade

UK automakers cheer US trade deal, as steel tariffs left in limbo

Global oil demand to dip in 2030, first drop since Covid: IEA

US retail sales slip more than expected after rush to beat tariffs

“Climatic challenges across both hemispheres are once again major contributors to the reduced global production volume,” OIV said in a report. “The preliminary estimates reveal a complex landscape of climatic disruptions across EU wine regions due to climate change,” it said. “As with 2023, extreme or atypical meteorological events are the key influence on global production, with early frosts, heavy rainfall, and prolonged drought dramatically impacting vineyard productivity.”

European production, which accounts for 60 percent of the global total, is down 11 percent overall, with only Hungary and Portugal producing wine at levels near average. At current trends, Europe’s production will be the lowest in the 21st century, according to OIV head of statistics Giorgio Delgrosso. Output in France, the biggest producer last year, is set to fall by 23 percent to 36.9 million hectolitres, the largest drop in the sector. French vines have been hit by bad weather and diseases. Italy recovered slightly from last year’s low volume to reach 41 million hectolitres and reclaim the top spot ahead of France. Spain remains Europe’s third-largest producer.

In the southern hemisphere, which accounts for about 20 percent of world wine output, production is at its lowest in two decades. OIV director John Barker said there was an “increasing volatility” and that southern countries could no longer make up for shortfalls when there are problems in northern-hemisphere countries. He said the wine industry had to find answers to deal with the growing impact of climate change and sustainability. “Only a small group of regions — notably the United States and several Eastern European countries including Hungary, Georgia, and Moldova — enjoyed more favourable climatic conditions, achieving average or above-average production volumes,” OIV said.

The IWSR drinks consultancy said that wine consumption also fell by 3.9 percent in the first six months of the year, mainly because of consumers changing habits. Wine drinking has fallen 20 percent since 2019, according to IWSR. It said that only consumption of Italian sparkling prosecco had increased in the first six months of 2024. Consumption of French champagne was down 8.6 percent.

© 2024 AFP

Tags: agricultureclimate changewine
Share42Tweet27Share7Pin10Send
Previous Post

US stocks rise on Black Friday

Next Post

US stocks rise with Dow reaching new high on Black Friday

Natalie Fisher

Natalie Fisher

Related Posts

Economy

Why stablecoins are gaining popularity

June 17, 2025
Economy

Bank of Japan holds rates, will slow bond purchase taper

June 17, 2025
Economy

Ecuador pipeline burst stops flow of crude

June 16, 2025
Economy

Yen slides ahead of Bank of Japan policy decision

June 16, 2025
Economy

War, trade and Air India crash cast cloud over Paris Air Show

June 16, 2025
Economy

China factory output slows but consumption offers bright spot

June 16, 2025
Next Post

US stocks rise with Dow reaching new high on Black Friday

Trudeau in Florida to meet Trump as tariff threats loom: media

Trudeau in Florida to meet Trump as tariff threats loom

Romania's economic troubles fuel far-right rise

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

US retail sales slip more than expected after rush to beat tariffs

June 17, 2025

Taiwan tests sea drones as China keeps up military pressure

June 17, 2025

G7 leaders urge Trump to ease off trade war

June 17, 2025

Oil prices rally, stocks slide as traders track Israel-Iran crisis

June 17, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.