Italy back at the top in 2024 as poor weather hits France wine production - data

Forecasts for this year’s global wine production have been released, with levels expected to be even lower than 2023’s historical nadir.

Figures released this week by The International Organisation of Vine & Wine (OIV) indicate that the 2024 harvest will be down by around 2% on last year. A projected worldwide total of between 227m and 235m hectolitres would make this year “the smallest global output since 1961”, according to the trade organisation.

In repeating last year’s hope that “a market equilibrium” could ensue, the OIV noted an ongoing context of “decreasing global consumption and high inventory levels” for wine worldwide.

A breakdown by country sees Italy back as the world’s largest wine producer at France’s expense; the latter slumped by almost a quarter (-23%) this year on 2023 as OIV highlighted “adverse weather conditions across the country from flowering to harvest, impacting all wine regions, with issues like continuous rain, disease outbreaks, poor flowering, droughts and hailstorms reducing yields”. Italy’s 7% rise on 2023 was overshadowed by an 18% bounceback by Spain, where droughts hampered last year’s performance.

Elsewhere, the US is expected to be down by 3% while in the Southern Hemisphere, production is expected to record a third consecutive year of decreases following the record high of 2021. Argentina looks set to lead in the south as a 23% jump for the country will top Australia’s +5%. Chile, New Zealand and South Africa are all expected to be down year-on-year, by 15%, 21% and 5%, respectively.

The OIV noted that the final production figures take three years to work through.

“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,” the OIV said in its annual report. “This underscores the wine industry’s increasing vulnerability to climate variability, highlighting the urgent need for adaptive strategies and resilient viticultural practices in the face of escalating environmental uncertainties.”

To access this year’s report from the International Organisation of Vine and Wine, click here.