Mid-term outlook for wine market

Radóczné Kocsis, Teréz

Keywords: production, consumption, reform of wine regime, competitiveness, outlook.

The unfavorable weather-conditions changed earlier trends of wine market for the 2007 vintage. Aridity in Australia while bad weather in Europe reduced surpluses and caused increasing international wine prices by the end of that year. A more significant shortage has evolved especially on the markets of white vines. Among factors influencing supply warming of global climate and reforming of EU-regime should be mentioned while on the demand side growing consumption of Russia and Asian countries as well as of North America (USA, Canada) had dominant impacts. From a Hungarian viewpoint completion of EU-negotiations for wine-reform seems to be promising because more resources will be available for technology-modernisation and marketing which may improve our competitiveness and –after a temporary decrease- can stop the falling tendency of production.