Production will be below average and close to the lowest in 60 years

Global wine production will fall to one of the lowest ever due to severe weather damaging vineyards in Europe's main wine regions.

In particular, weather conditions had a significant impact on wine production in Italy, Spain and France, resulting in extremely low production volumes.

According to data from 28 countries, accounting for 85% of world production in 2020, world production in 2021 is at 247.1-253.5 million hectoliters. This will be the third year in a row that production will be below average and close to 2017 levels (248 million hectoliters), the lowest in six decades.

Falls in production in Italy, Spain and France, the world's largest wine producers, will exceed projected production in the planet's southern hemisphere. Thus, in the European Union, wine production will fall by 13% compared to last year to 145 million hectoliters.

In the southern hemisphere, favorable weather should allow high production in the main producing countries with the exception of New Zealand. Total production in the southern hemisphere is projected to reach a record 59 million hectoliters, up 19% from the past.

Wine production in the United States will grow by 6% over last year, to 24.1 million hectoliters. At the same time, summer drought in some regions will keep volumes below the five-year average.

We will remind, earlier Landlord reported that the European company will create a fund for those wishing to invest in wine and cottage cheese.

UkrAgroConsult