South African wine producers face significant market risks, according to speakers at the South Africa Wine Summit held recently in Stellenbosch, Western Cape.
Nikki Weimar, Nedbank’s chief economist, highlighted the challenges posed by political uncertainty, legislative red tape, electricity supply issues, and logistical problems, exacerbated by an ‘extremely turbulent’ global economic environment, due to US President Donald Trump’s policies, which were resulting in trade disruptions.
Weimar said that, in response to the turmoil, the International Monetary Fund had adjusted economic growth forecasts for 2025 down by 5 points, to 2,8% for the global economy, 1,4% for advanced economies, and 3,7% for emerging economies.
The US’s outlook has been adjusted down by 0,9 points to 1,8%, China’s by 0,6 points to 4%, the Eurozone by 0,2 points to 0,8%, and the…