The amount of wine consumed internationally reached its lowest level in 27 years in 2023, according to the International Organisation of Vine and Wine (OIV). The organisation attributes this decline to the increased price of wine.

Based in Paris, the OIV estimates that 221 million hectoliters of wine were consumed last year, which is 2.6 percent less than in 2022. A hectoliter is 100 liters, roughly equivalent to 133 standard wine bottles.

The OIV cites several reasons for the price hike of wine, including disruptions in global supply chains and higher production and distribution costs.

The organisation also anticipates that production in 2023 will be lower than previously estimated. The OIV now expects 237 hectoliters of wine, compared to a November estimate of 244 million hectoliters. This places wine production significantly lower than in 2022. The downward revision is due in part to adverse weather conditions last year, including early frost, heavy rainfall, and drought. Global fungal diseases also had an impact.

Italy experienced a staggering 23 percent decrease in wine production compared to 2022, marking its worst year since 1950. France also saw a decline in sales last year.