Officially launched today with a kick-off meeting, the new wine market observatory will bring short-term analysis and greater transparency to an important sector for EU agriculture. The EU is the biggest wine producer in the world, representing 65% of global production and 70% of exports.
The market observatory will be regularly updated with a wide range of market data such as prices, production and trade. Market analysis, short-term outlook reports, medium-term prospects will also be provided for the wine sector. Finally, as part of the observatory, regular board meetings composed of market experts will be organised to discuss the market’s state of play.
The observatory covers all types of wine – red, white, rosé – as well as wines protected under the geographical indication schemes: protected designation of origin (PDO) and protected geographical indication (PGI).
Observatories already exist for crops, sugar, meat and milk. The latest one, for the fruit and vegetable sector, was launched on 18 October 2019. The European Commission designed these observatories to help the European agriculture sector to cope more effectively with market volatility and ensure more transparency.