Rabobank Doesn’t Expect to See COVID Recovery until 2022

Dear Client:The on-premise accounts for about 20% of annual wine sales volume in the US. The channel may be small volumetrically, but it's "very important for access and for margins," particularly for small, premium wine brands, according to Rabobank's recent Wine Quarterly. There has been some recovery in the on-premise already which is "encouraging, but the sector remains under extreme duress," writes Rabobank global strategist-beverages Steve Rannekleiv, particularly as more states shut the channel back down in an effort to get