OIV: World wine production, the weakest in the last 60 years. Romania among the countries where production has increased. In terms of volume, Romania ranks 6th in the EU

Must Read

Romania recorded the largest increase in construction works in 2023

Bucuresti, 10 February, 2024 - # RBJ - In December 2023, compared with November 2023, seasonally adjusted production in...

SeedBlink launches ESOP Design program to help Romanian entrepreneurs reward their employees through shares

The program is adapted to the specific legal and tax environment in Romania. It is made in collaboration with...

Algeria is taking the place of Russia, slowly but surely, in the gas supply of Central Europe

Bucharest, February 17, 2024 - # RBJ (photo: Algerian gas pipelines to Italy and Spain) - Last week, the...

Bucharest, November 7, 2023# rbj (Source: OIV)– According to the preliminary estimates of the International Organization of Vine and Wine (OIV) in 2023, world wine production is expected to be the smallest in the last 60 years.
The most affected are the producers from the Nordic hemisphere, especially France, Spain.
OIV indicates the following aspects:
– Low production volume in the European Union is expected. Italy and Spain record a significant decrease with respect to 2022 due to unfavorable weather conditions that led to downy mildew and droughts. France becomes the largest world producer in 2023, with a volume slightly above its five-year average; –
– First harvest forecasts in the USA indicate that production volume will be not only higher than in 2022 but also above the average observed in the last years;
– In the Southern Hemisphere wine production volumes are expected to be well below 2022 figures. Australia, Argentina, Chile, South Africa, and Brazil were all heavily affected by adverse weather conditions. The only exception is New Zealand, the only country with a 2023 production level above its five-year average.
Based on the information collected on twenty-nine countries, which account for 94% of the global production in 2022, world wine production (excluding juices and musts) in 2023 is estimated between 241.7 mhl and 246.6 mhl, with a mid-range estimate at 244.1 mhl. This represents a decrease of 7% compared to the already below-average volume of 2022.
This year’s figure should be, however, taken with caution, as there are still large countries like China, whose information is not available yet. Also, the high volatility in production volumes observed over the last years at both country and regional levels makes forecasting exercise even more difficult.
This would be the smallest production since 1961 (214 mhl), even lower than the historically small production volume of 2017 (248 mhl). This negative scenario can be attributed to significant declines in major wine-producing countries in both Hemispheres. While in the Southern Hemisphere, Australia, Argentina, Chile, South Africa, and Brazil recorded year-over-year variations between -10% and -30%, in the Northern Hemisphere, Italy, Spain and Greece are the countries that suffered the most from bad climatic conditions during the growing season. Only the USA and a few EU countries like Germany, Portugal and Romania, experienced favorable climatic conditions that resulted in average or above-average volumes.
In the European Union (EU), wine production volume (excluding juices and musts) in 2023 is expected to be 150 mhl, which represents a year-over-year decrease of 11.2 mhl. In relative terms, this estimated volume is 7% lower than in 2022 and 8% below the last five‑year average. Overall, the EU wine production in 2023 represents 61% of the world total, a figure in line with the last ten years’ average.

As can be seen from the adjacent table, Romania maintains its relatively constant wine production, ranking in the last 5 years on the 6th place among the major producers in the EU. Compared to the year 2022, OIV estimates a 15% higher production for Romania, and in the last 5 years, the average production has increased by 4%. In terms of volume, Romania’s wine production varies around the figure of 4.5 mhl.
After Romania, the other producers in the EU are at half of their wine production. Hungary and Austria produce half of what Romania produces, and Bulgaria obtains an annual amount of about 1 mhl.

- Advertisement -
Latest News

Romania recorded the largest increase in construction works in 2023

Bucuresti, 10 February, 2024 - # RBJ - In December 2023, compared with November 2023, seasonally adjusted production in...

SeedBlink launches ESOP Design program to help Romanian entrepreneurs reward their employees through shares

The program is adapted to the specific legal and tax environment in Romania. It is made in collaboration with Mavers Tax Advisory and Andronic...

Algeria is taking the place of Russia, slowly but surely, in the gas supply of Central Europe

Bucharest, February 17, 2024 - # RBJ (photo: Algerian gas pipelines to Italy and Spain) - Last week, the German Vice-Chancellor and Minister of...

Romania-Italy: action plan that will strengthen the relations between the two states to a higher level

Rome, February 15, 2024 - # RBJ (Source: Agerpres) - Romania and Italy are entering a new stage of development of their consolidated strategic...

The Economist Impact Events presents the fourth edition of the Romanian Business & Investment Roundtable Conference in Bucharest, between April 3-4, 2024

Bucharest, 15 February, 2024 - # RBJ - The Economist Impact Events and its official representative for South East Europe, Hazlis & Rivas, together...
- Advertisement -

More Articles Like This

- Advertisement -