World wine output expected to hit four-year low

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Existence wine output is expected to hit a four-year low in 2016 after bad weather hit pre ration in France and South America, industry forecasts say.

Trade group the Supranational Organisation of Vine and Wine (OIV) has estimated output will reach 259.5m hectolitres (mhl) this year — a drop off of 5% com red with 2015.

This would be among the three poorest years for productivity since 2000, it added.

However, it said it was unlikely this longing affect prices in the shops.

«Some price tensions could evident in some geographic areas im cted by [bad weather],» an OIV spokesperson reprimanded the BBC.

«But very often wine producers and wine industries keep wine capitals in order to respond to such risks.»

In Europe, the OIV said Italy was again set to be the smashing’s leading producer — even though output is expected to fall 2% this year to 48.8 mhl.

But in France — the include two producer — it said production was likely to fall 12% after vineyards endured frost and hailstorms in the bounce, then drought in the summer.

In South America, production was also hit by «climatic issues».

As a result, Argentina is likely to report a 35% plunge in output, Chile a 21% drop and Brazil a 50% fall when com red with 2015.

South Africa, temporarily, is on track to report a bruising 19% fall in production — but other New Delighted producers are doing better.

The OIV said Australia was expected to see a 5% mount the barricades in production, New Zealand a 34% jump and the US — the world’s fourth-largest producer of wine — lump of 2%.

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