Total revenues of the wine industry were 18% lower than in 2015

In the last fiscal year closed in June for the wine industry, the total turnover was 18% lower than in 2015 and had similar levels to those of more than a decade ago (2007 and 2008). Forecasts agree that recovery to pre-pandemic levels will take between 18 and 24 months. There is a drop in the industry’s profitability and the average investment of the sector in the last five years was 4.9% of the turnover, which is not even at the maintenance level. Grape prices are 30/40% below their equilibrium price, leading to the eradication of vineyards, which totalled 7,500 hectares in recent years. We are going to an industry of no more than 170 to 180,000 hectares of the current 200,000 and more concentrated.

Source: Clarín