WINE SECTOR: WORLD PRODUCTION HAS FALLEN BY ALMOST 10%.
The last few weeks have been marked by American sanctions that have particularly affected European wine trade. After an initial wave of surcharges, the US Bureau of Commerce announced its intention to tax European sparkling wine.
World wine production, according to the OIV, is down from 294 million hectolitres to 263 million hectolitres in 2019.
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