Wine production in 2024 could reach lowest volume since 1961

An estimate published last Monday (2) by the International Organization of Vine and Wine (OIV) reported that global production of the drink could fall this year to the lowest level since 1961.

According to the entity's report, the sharp drop was driven by adverse weather conditions, mainly the extreme drought that hit several regions of the planet.

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“Climate challenges in both hemispheres are, once again, the main causes of this reduction in global production volume,” said the OIV.

Compared to 2023, which was considered weak by professionals in the field, production in 2024 is expected to fall by more than 2%. Furthermore, the quantity represents a 13% reduction compared to the average of the last decade.

OIV projections, based on harvests from 29 nations representing 85% of annual wine production, estimate this year's figures at between 227 and 235 million hectoliters, the lowest volume harvested since 1961 (220 million). (HANDLE)