Little cheer ahead for South Africa’s wine sector
The industry is hanging on even as profitability wanes, firms close, the area under production shrinks and exports slide. Its tenacity is admirable — but the situation is not sustainable
08 February 2024 - 05:00
Over the past five years, the South African wine industry has suffered through prolonged drought and draconian Covid restrictions, but despite a recent resurgence in domestic wine consumption, its profitability remains under severe pressure.
In fact, almost 40% of wine farmers were loss-making in 2022 — the final year of a detailed macroeconomic study of the domestic wine industry undertaken by FTI Consulting for wine industry umbrella body SA Wine...
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