The total production of wine in 2017 was 246.7 mhl, which was 8.2% lower than that was in 2016. Compared with 2016, the total production of wine in 2017 dropped by 22.1 mhl. The figure reached a record lowest point of global wine production in the past 50 years. The lowest figure was 249.4 mhl in 1994 before.
Stephen Rannekleiv, a global beverage strategist in Rabobank, said that the decline in production at the same time in the three major wine producing countries was rare, and it was expected that the supply of wine will continue to last to the next year. The reduction of wine production will affect the price. The price of grape in Spain has risen by 20%~30% compared with the price in the last year, and the price of wine in other regions has also increased correspondingly.
quoted from WABA “2018 The Development Report of Global Alcohol Industry”