07-May-2024
Corporate News
 
Global wine demand drops to 27-year low as prices hit record high
26-Apr-2024

Global wine consumption fell to its lowest level since 1996 last year as inflation sent prices to record highs, deterring consumers already facing lower spending power, the International Organisation for Vine and Wine (OIV) said on Thursday. The Paris-based OIV estimated world wine consumption in 2023 at 221 million hectolitres (mhl), down 2.6% from 2022, and 7.5% below 2018. A hectolitre is the equivalent of 133 standard wine bottles.

News Source:- https://www.business-standard.com/industry/news/global-wine-demand-drops-to-27-year-low-as-prices-hit-record-high-124042600009_1.html
 
 
 

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