A survey among leading Italian wine companies reveals that only a quarter of the businesses expect revenue growth in 2024.

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At the closing event celebrating its centennial, the OIV presented its latest harvest estimate and proclaimed the International Day of Vine and Wine. Meanwhile, global market sales appear to be showing slight growth.

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The 2024 wine harvest in Rioja has ended with the smallest yield of the century, down 28% from the previous year.

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The estimated wine and must production for the 2024 harvest has dropped 10% compared to the five-year average.

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The 2024 harvest volume in France is approaching the historic low of 2017. While the October forecast was set at 37.5m hl, the figure has now dropped again.

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German vineyards produced 10% less wine than the 10-year average.

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Initial estimates by winegrowers indicate a significant decline in harvest volumes. Some growing regions have been hit particularly hard.

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According to the latest estimates from the French statistics agency Agreste, the French wine harvest has dropped to levels seen in 2021. However, no price increase is expected.

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Spain's harvest volume is significantly larger than last year's historically low yield—yet still smaller than expected.

Reading time: 45s