During 2017, wine production worldwide fell by 8.6% compared to 2016, which translates into only 250 million hectoliters. According to the information provided by the International Organization of Vine and Wine, the world wine production in 2017 reached its lowest level in 60 years due to bad weather conditions in the European Union that made the supply of the block decrease.
In 1957 the lowest level was recorded, when production fell to 173.8 million hectoliters. One hectoliter is equivalent to 100 liters or about 133 bottles of 75 centiliters of wine, the standard size.
Wine producers in the European Union were affected by bad weather in 2017, which led to a 14.6% drop in the block’s production, to 141 million hectoliters.
In contrast, production remained almost stable in the United States – the fourth largest producer in the world – and in China, which has become the seventh largest wine producer behind Australia and Argentina.
Chile and Latin America
Latin America had a mixed record: production increased by 25% in Argentina, after a very bad 2016 for the sector, and decreased by 6% in Chile.
During the month of February, Chilean bottled wine exported an increase of 6.11% in volume and 10.69% in value with respect to the same month of 2017. Chilean wine producers explained that the increase was 4.31 % with respect to the same month of 2017, standing at US $ 29.89 / box, and exceeding the 2017 average (US $ 28 / box).
World wine consumption rose to around 243 million hectoliters in 2017, 1.8% more than the previous year. The United States confirmed its position as the world’s largest consumer of the beverage with 32.6 million hectoliters, followed by France with 27 million.
China’s wine consumption increased significantly for the third consecutive year, with an increase in 2017 from 3.5% to 17.9 million hectoliters.