Brussels, 17th April 2020 – With all minds focused on tackling the COVID-19 outbreak, governments in Europe and across the world are adopting unprecedented measures to protect their citizens and contain the pandemic.
Since lockdown has been declared in many countries, because of logistic problems, security measures and sales drop, EU wine companies have their production centres operating at slow speed, at best, or closed down altogether.
“With the HoReCa[1]closed almost everywhere, we estimate that a 30% in volume and 50% in value of the EU wine market is locked. In addition, and after some signs of stockpiling early March, sales went down again also in supermarkets at the end of the month, reinforcing the negative trend of the wine market.” explained Jean-Marie Barillère, President of CEEV.