World wine production rebounds and records in 15 years

World wine production resumed in 2018 and reaches its highest level in 15 years, which could relieve consumers after the weather, have reduced the volume of the previous year to a minimum in more than two decades and increased prices.

The amount of wine produced has increased by 17%, the equivalent of some 39 billion bottles, said Thursday the International Organization of Vine and Wine (OIV), based in Paris. Production exceeded the group's forecast in October, with volumes that surprised the rise in Italy, France and Spain.

Italy it remained the world's largest producer in 2018 and its production increased by 29%. The main European wine-growing nations had very good weather conditions for the grapes, "unlike 2017, which has accumulated adverse conditions during the production season", explained the OIV.

The drop in production in 2017 led to higher prices last year, according to Pau Roca, CEO of the OIV. The value of world wine exports increased by 1.2% in 2018 to reach 31 billion euros (35 billion USD).

The world vineyard area was little changed last season, and seedlings in China and Italy compensated torn vineyards in the United States and Argentina. Some vines California was damaged by a drought that forced farmers to favor crops higher yields, such as almonds, reported the international wine broker Ciatti.

Producers in the southern hemisphere experienced a less favorable start in 2019 and volumes are expected to decline in Argentina, Chile, Australia and South Africa., added the OIV. As some countries are harvesting grapes, the outlook is based on initial estimates, although it is clear that the region's production "is not exactly good," Roca said.