Wine production can fall by 20% in 2020
Wine lovers may find a hard time this year as wine production may fall up to 20% in 2020 itself. This is because of irregular rainfall in last year which resulted in low production of grapes which is the main source of wine.
Wine sales have been on the back page for the big players while the rest of the industry has reported 30-40% decline year-on-year for the first three quarters of this financial year mainly due to the economic slowdown.
One of the biggest company of wine industry, Sula reported no growth in the overall sales for the first three quarters of the current financial year. . “Overall sales during the nine months of the current fiscal that ended in December remained flat. We are happy that the top end of our portfolio, which is the future of our business, had a positive growth,” said Karan Vasani, senior vice president, Sula Vineyards.
Yatin Patil, president of All India Wine Producers’ Association, said: “This year, wine sales have been down after the first quarter. The second and third quarters were particularly bad. October to December is the peak season for wine sales. But there was no season at all.”
The festive season just passed by with Christmas and New Year being the major attractions and the wine companies offered various offers and schemes but could not succeed much in getting the consumers on board.
The current situation is hard to digest for the wine makers and the wine lovers and both will hope for some relief in the upcoming financial year.