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Report on alcohol taxes got lost in COVID shuffle, official says // Naked Wines appoints new boss as retailer struggles for survival
February 5, 2024 - Wine Industry Insight Daily News Feed
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“According to the Census Bureau, alcohol inventories were quickly drawn down in 2020 due to COVID. Producers got busy making more but overestimated subsequent demand. Alcohol inventories started backing up in the wholesale channel beginning in August 2020 and continued until March 2023. The wine industry is built for higher production than sales volume today, so there will likely be enough supply for the foreseeable future.”
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