The final result for this year is still to come but both the optimistic and pessimistic estimates are below the long-term average of 268 mill. hl from 2010 -2022.
Too much wine: years of surplus (in mill. hl)
For years now, global wine production has exceeded consumption. Especially after vintages like 2018, the difference is significant.
Northern Hemisphere* vs. Southern Hemisphere
Depending on the vintage, the northern hemisphere produces almost four times as much wine as the southern half of the world. In absolute terms, in the South, volumes are subject to smaller fluctuations.
“Further declines in consumption are to be expected."
Overall, one can see that in the three major wine-growing countries of the EU - due to the heat and very low rainfall during the growing period – there were considerable fluctuations in harvest quantities. Yields in the southern hemisphere were generally high however.