Stagnation of global production in 2008 - China shaping up to be world's top importer. - World wine production has stagnated in 2008 compared with the previous year, says the Organisation internationale de la vigne et du vin (OIV), with production estimated at somewhere between 260.4 and 273.4 million hectolitres, a level similar to that of 2007 (266.9 million hectolitres). Production within the European Union, the OIV says, is at its lowest since 1991, with a fall of 1.3 million hectolitres or 1%, on 2007's already modest production. This fall is due essentially to the drop in production in the main producer countries, such as France, Portugal and Austria, which have recorded falls of 2.9%, 11% and 9% respectively compared with 2007 production. The Hong Kong Trade Development Council (TDC) has announced impressive growth potential in the wine sector for the Asian market (not Japan). It is Chinese demand that is driving this growth which will see the Asian sector overtake the American market by 2017. Demand in Asia (not Japan) has grown by 60% since 2002, while, over the same period, the US market has risen by a quarter and European demand has fallen by a little under 5%. The TDC estimates that Asian demand will reach 130 billion Hong Kong dollars (HKD) by 2017. The biggest importer in terms of volume would be continental China, which could, if current trends continue, be importing up to 600 million bottles by 2017, worth 870 million HKD (more than €72 million), compared with 24 million currently, said Moët Hennessy Diageo Managing Director in Hong Kong Boris de Vroomen. (I.L./transl.rt)