Posted: Apr 11, 2019
PARIS Reuters - 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, the International Organisation of Vine and Wine (OIV) said on Thursday.
After a 60-year low in 2017, when production was dented by extreme weather in Europe, including drought and storms, world output rose 17 percent last year to 292.3 million hectoliters (mhl), 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 percent above their five-year averages.
The figures confirmed an initial trend projected by the Paris-based OIV in October last year.
A hectoliter amounts to 100 liters, or the equivalent of 133 standard wine bottles.
Wine output, excluding juice and new wine, also jumped in the Southern hemisphere last year, with rises of 22.8 pct in Argentina to 14.5 mhl and 35.9 pct in Chile to 12.9 mhl.
OIV estimated that worldwide consumption was stable in 2018 at 246 mhl, compared with 246.7 mhl in 2017.
By Commodities April 11, 2019 Source:
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