Singapore Markets closed

World wine output rises 13 percent after disastrous year

The global wine trade increased 4.8 percent in terms of value last year

Global wine production rose 13 percent this year, after a catastrophic 2017 which was marked by heatwaves, frosts and hailstorms, the International Organisation of Vine and Wine (OIV) said Monday.

It said production was estimated at 279 million hectolitres (mhl) this year, "one of the highest since 2000".

Following a congress in Punta del Este in Uruguay, the OIV said Italy was the world's top producer with 48.5 mhl, followed by France at 46.4 million and Spain at 40.9 million.

"With 32.6 mhl, the United States confirmed its position as the biggest global consumer country since 2011, followed by France (27 mhl), Italy (22.6 mhl), Germany (20.1 mhl) and China (17.9 mhl)," it said.

Wine trade "increased by 3.4 percent in terms of volume and 4.8 percent in terms of value (30 billion euros, $34.3 billion) compared with 2016," it said.