Wine production, world-wide, hits eight year low

on 21/11/10 at 11:52 am

Wine

World wine production is set to fall to its lowest level for eight years this year due to cut-backs in Europe, the US and Australia, new figures show.

Wine production will fall by between 2.5% and 6% in 2010, according to the International Organisation for Vine & Wine (OIV). Falling production will help to drain a world wine glut that has caused serious headaches for many major producer nations in recent years.

The US, European Union (EU) and Australia have seen the biggest cuts. Production in the US is set to fall by 9% to 19.9m hectolitres in 2010, while the EU will see production drop by 6%, to 151.9m hectolitres. Estimates vary on the size of Australia’s grape harvest for 2010, but the country’s Government has reported a 12% fall on 2009.

{Full story via Just Drinks}

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