Wine industry inching back to pre-Covid levels

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Major representative of local wine producers Vinpro_za anticipates the sector will contribute R5.7 billion towards the country’s gross domestic product (GDP) by the end of 2022. Moneyweb Wine Profits

Major representative of local wine producers Vinpro anticipates the sector will contribute R5.7 billion towards the country’s gross domestic product by the end of 2022. The organisation says the sector will take between a year and 18 months to recover to pre-Covid levels, following two years of disruptions which included domestic alcohol sale bans and global trade barriers. Read: The devastating effect of lockdowns on SA’s wine industry It reports that the wine industry, which contributed R7.

“It’s positive to see export recovery and growth, especially in focus markets such as the US, Canada, Africa and China, notwithstanding severe disruptions at the Cape Town Port Terminal and global shipping constraints.” Read: Stakes in inefficient state ports up for sale in SA Vinpro reported that South Africa’s total wine export volume grew by 22% to 388 million litres in 2021, with the export value increasing by 12% to R10.2 billion.

 

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