Wine News: high prices for raw materials
The month of October 2021 was characterized by an increase in raw material costs for winemakers worldwide. However, the wine industry seems to be able to pass on these additional costs to consumers since the economic recovery following COVID fuels demand. Higher prices are also justified by lower volume supplied worldwide and especially in France due to poor climate conditions. Finally, taxes and tariff remain an issue as countries like Britain and China are leveraging their trade policies.
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