Wine harvest in decline: are we threatened with dry glass?

Wine harvest in decline: are we threatened with dry glass?

Global wine production is facing a dramatic decline that could reach its lowest level since 1961. According to current estimates from the International Organization of Vine and Wine (OIV) in Dijon, production volumes in the European Union are forecast to be eleven percent below the five-year average. The severe weather conditions, including late frosts and excessive rainfall, have hit almost all traditional wine countries hard. In Germany, Europe's fourth largest wine producer, a decline of six percent is expected compared to last year, reports Today.at.

Affected crops in Europe

This year's wine harvest in Austria is experiencing a decline of around a quarter compared to the average for 2019 to 2023 due to a mild spring and a hot, dry summer. Italy is reporting an increase in production and has replaced France as the leading wine producer in the EU. However, Italian winemakers are also struggling with poor weather conditions affecting their yields, while France is struggling with a decline of almost a quarter due to rain, storms and the attack of diseases on vines, such as Investment Week reported. Spanish winegrowers, on the other hand, are benefiting from an increase in yields compared to the previous year, although the lack of water continues to cause difficulties.

These extreme weather events highlight the wine industry's growing vulnerability to climate fluctuations. The industry is now faced with the challenge of developing adaptation strategies to counteract the economic losses. While Vetonal sales are declining and inventory levels remain high, reduced production could lead to a more balanced market in the long term. The coming months will be crucial in navigating the impact of these changes on the global wine market.