Global wine production is estimated to decrease in 2012, according to a report released by the International Organisation of Vine and Wine (OIV) on the 2012 global economic vitiviniculture situation.

In 2012, the production rate of wine throughout the world will range between 243.5-252.9 million hectolitres, lowest production level since 1975.

On the similar grounds, the rate of world area under vines will also decrease in the financial year 2012.

Some of the OIV member countries, especially European Union countries, have already reported decrease in their vineyards between 2011 and 2012.

However, the growth rate of planted areas in the southern hemisphere and the US will remain positive despite slowdown in overall rate, where Chile will register wine production rates of 10.6 million hectolitres, South Africa will post 10 million hectolitres and the US will report 20.55 million hectolitres of wine production in 2012.

The estimated low production rates in European Union were primarily due to reductions in the surface areas of member states and deterred climatic conditions over the last one year.

Among the major European Union wine producing countries, only Portugal and Greece will report positive production figures, according to the report.

On the other hand, world wine consumption rate in 2012 is expected to range between 235.7-249.4 million hectolitres.

Image: OIV is an intergovernmental organisation with expertise in the field of vines, wine and wine-based beverages, table grapes and raisins and other vine-based products. Photo: OIV.INT