In the red: global wine sales fall to lowest levels since 1961

News Snapshot:

Worldwide consumption of wine fell in 2024 to its lowest level in more than 60 years, the main trade body has said, raising concerns about new risks from US tariffs. The International Organisation of Vine and Wine (OIV) said on Tuesday that 2024 sales fell 3.3% from the previous year to 214.2m hectolitres. The OIV, whose report was based on government figures, said this would be the lowest sales figure since 1961, when sales were 213.6m hectolitres. Production is also at its lowest level in more than 60 years, having fallen 4.8% in 2024 to 225.8m hectolitres. The OIV’s statistics...