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Less wine, more money


economy

Less wine, more money

There was less wine produced around the world last year according to the trade body the International Organisation of Vine and Wine (OIV).

Global production was down by 3.2 percent from the previous year with bad weather a major factor.

The total was 267 million hectolitres (one hectolitre represents 100 litres, or the equivalent of just over 133 standard 75 cl wine bottles).

The OIV said the largest declines were in France – which suffered frost, hailstorms and drought – and Latin America from the El Niño climate phenomenon and high humidity.

Italy maintained its position as the world’s largest wine producer with France in second place, Spain – where production edged up – was third and the United States fourth.

The world wine trade saw a slight reduction in volume down by 1.2 percent, but there was a 2.0 percent increase in value with sales totaling 29 billion euros.

Wine consumption rose slightly but is still well below the levels seen before the 2008 financial crisis.

The US topped the consumption league table, for the sixth year running, followed by France, Italy and Germany, though the Chinese drinking are more and were in fifth place.

The amount of land under cultivation for growing grapes to make wine was unchanged last year as China added more vineyards while they declined in Turkey and Portugal.

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