Summer tightening, Croatia leads - Prices in Zagreb rose by 52%, 7 times the European average
Croatia ranks first in Europe for the increase in wine prices. Over the past four years, prices have increased by 52%, according to data from Eurostat, and this trend is expected to continue. Cyprus has seen an increase of 48%, while wine prices in Hungary have increased by 45%.
The entire region, including Slovenia and Romania, has experienced significant growth, with wine becoming 32% more expensive in these countries over the same period. A particularly disturbing fact is that wine prices in Croatia have risen seven and a half times more than the European Union average. Between 2020 and 2024, the average increase across the EU was 7%.
Global wine production is forecast to fall to its lowest level since 1961. While specific figures for last year are not yet available, data from the Financial Services Agency shows that Croatian wine producers had an excellent year in 2023 Businesses in the wine production sector recorded a net profit of 5.7 million euros, a notable increase of 141.6%.
Meanwhile, the International Organization of Viticulture and Wine predicts that global wine production this year will fall between 227 and 235 million hectoliters, the lowest level in more than six decades. The decline was caused by extreme and atypical weather conditions, including early frosts, heavy rainfall and prolonged droughts, which severely affected vineyard productivity.
Among the world's 29 largest wine-producing countries, which together account for 85% of global production, only a few are expected to reach average or above-average production levels.
The organization notes that production in 2024 is likely to be 2% lower than in 2023 and 13% below the ten-year average. France, the largest producer of wine in 2023, is projected to see a 23% decline in production. While Italy expects an easy recovery and return to the first place.
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