Global Wine Trade Hit by Tariffs, Climate and Weak Demand

Reuters reports that global wine exports fell to their lowest level since 2009, while consumption dropped to its weakest level since 1957, according to OIV data. Exports declined 4.7% by volume to 94.8 million hectolitres, while global consumption slipped 2.7% to 208 million hectolitres, with US tariffs, economic pressure, climate disruption and changing consumer tastes all weighing on the sector.