World wine demands drops to 27-year low indaily.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indaily.com.au Daily Mail and Mail on Sunday newspapers.
While the rising cost of living has put a dent in some trends, experts at the OIV, monitoring trade, blamed extreme climate changes for the overall slump in production.
Global wine consumption fell to its lowest level since 1996 last year as inflation sent prices to record highs, deterring consumers already facing lower spendin.
World wine production dropped 10 percent last year, the biggest fall in more than six decades, because of "extreme" climate changes, the body that monitors the trade said Thursday. "Extreme environmental conditions" including droughts, fires and other problems with climate were mostly to blame for the drastic fall, said the International Organization of Vine and…
World wine consumption dropped to its lowest level since 1996 last year, with production down 10 per cent, after the world's worst grape harvest in 62 years, a new report has revealed.