(Harpers) - Global wine consumption has dropped slightly in the last year, according to the latest figures from the International Organisation of Vine and Wine (OIV) – but overall there are signs of stabilization.

Speaking at the launch of the OIV’s global state of conditions report, Director General Jean-Marie Aurand said consumption had dropped by under 1% to 2.4 mhL compared to 2013, with the 2014 figures estimated to be 240 mhL. France and Italy continued to see declines in consumption, with the USA remaining in the top spot at 30.7mhL. The UK saw consumption fall 1% to 12.6mhL, making it the sixth largest wine consumer in the world.

“The traditional consumer countries resumed their downward trend - or stagnation - to the advantage of new consumer countries both in Europe and in the rest of the world,” the OIV stated.

Global production in 2014 was lower than the high volumes of 2013, down 4.1%, Aurand said, but maintained a “good average” at 279mhL.

France and Germany recorded large increases in production, up +11% up 46.7 mhl and 9.3 mhl respectively, although there were declines in Romania, down 20% to 4mhL, in Italy, down 17% to 44.4mhL and in Spain, down 9% to 41.6mhL.

The USA and South Africa (11.3 mhl) maintained “good levels of production and production stabilised to 15.1mhL in Argentina, although there were “significant declines” in Chile, down 18% to 10.5mhL. Slight declines of around 3% in the Southern Hemisphere harvest are likely in 2015, Aurand noted, which he said placed it in the range of 53 to 57 mhL.