Wine harvest in 2023 will be the smallest in 60 years

Global wine production in 2023 is expected to be the smallest in 60 years due to the negative impact of extreme climatic conditions. According to the International Organization of Grapes and Wine (OIV), wine production worldwide will decrease by about 7% compared to the previous year due to weather anomalies.

The OIV report, which analyzes information from 29 countries representing 94% of global wine production, shows expected low yields in the European Union. Italy and Spain have shown a significant decline in production due to unfavorable climatic conditions, while France is expected to become the world's largest wine producer in 2023.

As for the United States, forecasts indicate an increase in wine production compared to the previous year, which is higher than the average observed in recent years.

However, in the Southern Hemisphere, a significant decline in wine production is expected in Australia, Argentina, Chile, South Africa and Brazil due to the negative impact of the weather. The only exception is New Zealand, where wine production in 2023 is expected to exceed the five-year average.

Global wine production (excluding juice and must) in 2023 is estimated to range from 241.7 million hectoliters to 246.6 million hectoliters, with an average estimate of 244.1 million hectoliters. This is 7% less than in 2022.

However, it is worth noting that there are factors such as the lack of data on wine production in China and the high volatility of production volumes that make forecasts unstable.

The decline in wine production in 2023 will reach the lowest level in the last 60 years, due to the negative impact of weather conditions on production in the leading wine-producing countries in both the Southern and Northern hemispheres.