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The global wine trade is expected to reach a new record value of 32.5 billion euros in 2021. According to research by the OEMV (Observatorio Español del Mercado del Vino), a significant increase in the value of the wines traded is the main contributor to this. The volume is likely to be slightly below the all-time high of 109 million hectolitres from 2017. In the Covid pandemic with its restrictions until January 2021, the calculated annual turnover fell by two billion euros. Bottled wines in particular saw a marked decline due to the closures of catering establishments, while non-bottled wine quickly recovered. Between April and June 2021, however, the entire sector recovered to an unexpected extent. While consumption is stabilising again, the OEMV expects price increases in 2022 due to small harvests in Italy, Spain and France.
(al / Source: winenews; Photo: Pixabay Aline Ponce)