Like chocolate facing potential decline by mid-century, is red wine next? What's clear is that world wine production has hit its lowest level since 1957—a 60-year trough—according to the authoritative International Organisation of Vine and Wine (OIV). Adverse weather across the European Union slashed 2017 harvests to 250 million hectolitres (1 hl = 100 litres or 133 standard 75cl bottles), down 8.6% from 2016. France's output fell 19% to 36.7 million hl, Spain's dropped 20% to 32.1 million hl, and Italy's declined 17%. Non-European production remained stable, with the United States holding fourth place globally ahead of Australia, Argentina, and China.
An OIV representative reassures there's no immediate supply crunch: “In 2017, three major producing countries—Italy, France, and Spain—faced unfavorable weather conditions. […] Wine is storable, so annual production needn't match that year's consumption.” Shortages would require back-to-back bad vintages. Ironically, global consumption climbed 1.8% to 243 million hl in 2017. The US leads drinkers at 32.6 million hl, with France close behind at 27 million hl yearly. China's intake rose 3.5% from 2016, ensuring ample supply for all—always in moderation!
