There is no concrete risk that wine prices will increase, just as there is no insatiable thirst caused by a drop in production and increase in demand in the USA and China, as the American bank Morgan Stanley recently stated in a report. Beyond the many analyses that have come in recent days (the most precise is by Felix Salmon for Reuters), disproving the alarmism of the financial institution’s report are the data released by the International Organisation of Vine and Wine (OIV) that documents the increase in global production in spite reduced cultivation areas, and stabilizing demand.
The figures issued by the OIV highlight increased productivity, smaller cultivated surfaces and more output in Italy, France and Portugal, as well as record recovery time for second tier countries like Romania. Volumes continue to increase, according to the OIV, after a difficult 2012 due to climactic factors. Total world production for 2013 should reach 281 million hectoliters, with consumption reaching 245.