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
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