Spain: Spanish Wine Sector Update
Link to report:
During the first quarter of 2020, Spanish data shows a significant drop in wine sales to the domestic and international markets. The drop in Spanish wine sales is primarily due to the closure of the hospitality and tourism sectors in response to the COVID-19 crisis. Average prices for Spanish wine are also expected to decline. The Ministry of Agriculture implemented a set of extraordinary measures to alleviate the pandemic’s negative impact on the Spanish wine sector and to avoid a surplus of wine during the upcoming season. With the end of the Spanish State of Alarm and the reopening of nonessential activities, Spanish industry observers expect the wine sector to rebound.
