Global wine output recovered in 2018 from 60-year low
Business Live - Apr 25th, 14:13
Global wine output rose to near-record highs in 2018 after a sharp rebound from a poor harvest the previous year, though consumption stopped growing, says the International Organisation of Vine and Wine (OIV).
After a 60-year low in 2017, when production was dented by extreme weather in Europe, including drought and storms, world output rose 17% in 2018 to 292.3-million hectolitres, the OIV said.
The growth was driven by steep rises in Italy, France and Spain —three of the world’s major producers — which all recorded output at least 13% above their five-year averages.
The figures confirmed an initial trend projected by the Paris-based OIV in October 2018.
A hectolitre amounts to 100 litres or the equivalent of 133 standard wine bottles.
Wine output, excluding juice and new wine, also jumped in the southern hemisphere in 2018, with rises of 22.8% in Argentina to 14.5-million hectolitres and 35.9% in Chile to 12.9-million hectolitres.
OIV estimated that worldwide consumption was stable in 2018 at 246-million hectolitres, compared with 246.7-million hectolitres in 2017.
The slight drop could be linked to the decline in production the previous year, it said, adding that consumption estimates were tentative due to limited data.
Mainland China recorded the largest fall in consumption among the world’s top 20 largest wine consumers, with a 6.6% decline on year to 18-million hectolitres, according to OIV, without detailing the reasons for the fall. In Britain, consumption fell 3.1% to 12.3-million hectolitres.
French exporters estimate that wine and spirit exports to China tumbled 14.4% in 2018 after growth of 24.5% a year earlier.
In contrast, Russian demand jumped 6.9% in 2018 to 11.9-million hectolitres.
The global wine trade rose slightly in volume to 108-million hectolitres as a rise in volumes exported from the southern hemisphere helped compensate for smaller shipments from historical European leaders, OIV said.
On the other hand, nearly all European exporters saw better exports in value in 2018 as opposed to their southern hemisphere counterparts and the US.
Overall global exports rose 1.2% in value in 2018 to €31.3bn, the OIV said.
France was still the main exporter in value, with wine shipments totalling €9.3bn in 2018, up 2.8% on the previous year, OIV said.Business Live
Key insights into the global banana market
16/09/2019 - 14:45
The global banana market revenue amounted to $58.5B in 2017, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
Insights into the global avocado market
11/09/2019 - 14:03
The global avocado market revenue amounted to $13.5B in 2018, reducing by -9.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
Libstar aims to up its exports
05/09/2019 - 08:47
Libstar wants to increase contribution from its exports to as much as 20% in a move that will mitigate the subdued consumer spending and weak retail environment.
Global grape market 2019
04/09/2019 - 08:39
IndexBox has published a new report: 'World - Grapes - Market Analysis, Forecast, Size, Trends, and Insights'. Here is a summary of the report's key findings.
SA beekeepers are declining despite robust honey demand
03/09/2019 - 10:10
The number of professional beekeepers is declining as many of them are going out of business voluntarily or due to the drought, according to Professor Martin Villet from Rhodes University’s Department of Zoology and Entomology.