Overview
- Global production remains below the five-year average for a third straight year, according to the industry body.
- Europe shows sharp divergence as France records its smallest harvest since 1957, Spain falls to a 30-year low, and Italy rises 8% to regain the top producer spot.
- Southern Hemisphere volumes rebound about 7% led by South Africa, Australia, New Zealand and Brazil, offset by a decline in Chile linked to heatwaves and water shortages.
- The OIV highlights a long-running fall in wine consumption to the lowest level in more than six decades, supporting tighter inventories and firmer export pricing.
- These figures are first estimates that the OIV plans to update later in the year.