Falling consumption, possible trade wars and Agoa loss could test ‘resilient’ producers
16 February 2025 – 08:07
by THABISO MOCHIKO
Despite flat export volumes and a contracting global wine market, South African wine recorded a 4% year-on-year increase in export sales to $562m (R10.3bn), but industry experts warn of potential pitfalls including constrained consumer spending and the US ramping up global trade wars.
Globally, consumption trends have declined year on year, due to a number of factors including the economic downturn, health concerns surrounding the consumption of alcohol and geopolitical instability. There are also fears that the US may review the African Growth & Opportunity Act (Agoa), which expires in September. ..