Thousands of grapevines uprooted as global grape oversupply pressures wine industry
Thousands of grapevines are being uprooted worldwide due to oversupply, though New Zealand's wine sector may benefit from a new trade agreement with India.
Global wine sales have declined, leading to widespread vineyard losses as growers respond to oversupply in the international market. New Zealand's wine industry faces headwinds from these global conditions. However, a recently signed free trade agreement with India is expected to provide the sector with new opportunities.
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Thousands of grapevines uprooted amid global oversupply of grapes
Global wine sales are down but there is some hope NZ's industry can soon benefit from the newly signed Indian free trade agreement.