Following a presentation by Director General of the OIV, Jean Marie Aurand in Paris on the 24th April stating the potential wine production, assessment of the harvest and the state of the market in 2017.
Stabilisation of the world area under vines at 7.6 mha since 2008
In 2017, the growth of the Chinese area under vines slowed while Turkey and Spain declined. In Europe only the Italian area grew.
Historically low world wine production
Global wine production fell in 2017, a decline of 8.6% compared to 2016.
243 mhl of wines consumed
Consumption has almost stabilised since 2008 with a positive 3 year trend.
Positive balance of World wine trade
Both volume +3.4% and value +4.8% increases year on year.
Conclusion, with production low and consumption turning, shortage could be a concern and premium wines will be in demand.