Global wine industry faces production shifts and export volatility

Major global wine producers are facing significant shifts in production and export performance.

In Spain, the 2025-2026 campaign saw wine and viticultural exports drop by 13% in volume to 23.7 million hectoliters. While total export value fell by 7.2% to 3,274 million euros, a 6.6% increase in average prices partially mitigated the revenue loss. Mosto exports specifically declined by 24.4% in volume.

New Zealand reported an 8% increase in wine export value, reaching 2,108 million dollars, despite a 15% decrease in the 2026 harvest. The reduction in production to approximately 440,000 tons is viewed as an effort to align supply with current demand.

France is facing a potential production low not seen in 70 years. Due to extreme heat and drought, the French Ministry of Agriculture warns that production could fall below 34 million hectoliters, representing a 6% decrease from 2025 and a 17% drop from the five-year average. These climate conditions have accelerated grape ripening and altered traditional harvest calendars.