The European Union publishes its annual report and agricultural forecasts for the next 2030, which includes a section on how wine is evolving. The main analyses are (i) the latest developments in the variables of the wine industry, (ii) the main influencing factors, and (iii) the possible changes in 2030.
Image courtesy of: Penin Guide Spain
In essence, the EU forecast (which is particularly difficult in a turbulent year like 2020 and with the huge changes) points to a tendency for global wine consumption to stabilize somewhat, while EU consumption declines. Consistent with recent years, this greater consumption stability would mean that world trade (and the EU) would also remain highly stable in terms of volume, but with the potential for higher average prices. The next question is whether the stabilization of consumption and world trade volumes will lead to a stabilization of production, which does tend to equalize in the medium to long term, but with the surpluses or deficits that would have been generated in the industry in recent years.