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Global wine exports reached record-high value while volumes fell

The value of global wine exports was at its highest-ever recorded last year despite price increases leading to a decrease in the volumes.

The International Organisation of Wine and Vine (OIV) said in a recent statement: “Wine exports in 2022 were severely impacted by high inflation and global supply chain disruptions that led to significant slowdown of sea freight.”

The Paris-based trade body explained that “this combination of events resulted in an overall lower volume of wine exported at a much higher average price, up 15% compared to 2021, with global wine exports value estimated at €37.6 billion, the highest figure ever recorded”.

According to the OIV, world wine consumption in 2022 is estimated at 232 million hectolitres, marking a decrease of two million hectolitres compared to 2021.

Additionally, the organisation outlined how world wine production in 2022 was estimated at 258 million hectolitres, marking a slight decrease of 1% compared to the previous year and admitted that this was “due to higher-than-expected harvest volume in Europe, despite the drought and heat waves during spring and summer”.

To further explain the situation, the OIV revealed how “the war in Ukraine and the associated energy crisis, together with the global supply chain disruptions” essentially created “a spike in costs in production and distribution” which were all contributing factors that had a knock on effect on trade.

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