On the one hand, large companies are holding firm and driving the sector forward; on the other, critical issues are emerging related to declining consumption, record inventories, and tensions on international markets.
Traceability
On the supply side, the 2025 harvest is estimated at 47–47.4 million hl with good/excellent quality and high cellar stocks (~37 million hl): a “precarious equilibrium” scenario in which protecting profitability is more important than maximizing volumes.
Traceability