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Trends and Insights

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11 Nov 2023

Global Wine Production Anticipated to Reach 62-Year Low in 2023

By 2023, global wine production is projected to fall to its lowest level since 1961, a 7% decrease from the previous year. Adverse weather conditions, including frost, heavy rainfall, and droughts, are primarily blamed. However, falling global demand may stabilize the market and keep prices steady. [Source](