Italy’s Wine Production Seen Falling 14% After Rainy Summer

Italy’s wine output probably dropped 14 percent this year after a rainy summer, the U.S. Department of Agriculture’s attache in Rome said, citing estimates from the Italian Association of Enologists.

Production will drop to 41.6 million hectoliters, the USDA’s Foreign Agricultural Service said in a report on the USDA website. “Unfavorable weather conditions” were blamed, it said. Sicily’s output declined 30 percent, it said.

Italy’s own wine consumption has been falling “for decades,” partly due to anti-alcohol drinking campaigns, the Rome attache said. Italy’s wine exports increased 7 percent to $6.8 billion this year, with shipments rising 7.3 percent to $1.5 billion for the U.S. and 20 percent to $868 million for the U.K., according to the attache, citing data from Global Trade Atlas.

Wine imports for Italy decreased 6.8 percent to $380 million, because of reduced supply from Spain and the U.S., it said.

Before it's here, it's on the Bloomberg Terminal.