Recession has major impact on global wine industry
Recession has major impact on global wine industry
Apr 15, 2010 6
The picture painted by the International Organization of Vine and Wine’s (OIV) latest statistical compendium was rather bleak for 2009.With global consumption pursuing its downward trend, global commerce in wine also suffered from the recession and global wine production remained at a level unchanged since 2008.World wine consumption fell by a dramatic 6.8 million hectoliters compared with the previous year with particularly significant declines in the European Union.Affected by the downturn, global wine exchanges, at 81m hL, showed a 3.6% drop in 2009, the first fall since 2000.
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