The price of European wine fell slightly after the EU-Mercosur agreement, but could fall by 20% by 2034, says World Wine executive Kelsey Knight/Unplash The price of European wine has not yet registered a significant drop after the provisional entry into force of the free trade agreement between Mercosur and the European Union. The expectation is that this reduction will intensify in the coming years and reach around 20% by 2034, when the import tariff will be completely eliminated. ??Do you have any reporting suggestions? Send to g1 At World Wine, one of the largest wine importers in Brazil, consumer prices fell between 2% and 2.5% in May, when the import tariff on European wines fell from 27% to 24%. The agreement provides for a gradual reduction in import tariffs. The next stage will reduce the rate to 21% on January 1, 2027. (see schedule below) "What the agreement did was create a clear reduction trajectory, which is very good because it allows us to plan pricing over time," says Juliana La Pastina, CEO of Grupo La Pastina, owner of World Wine. See what import taxes on European wines and champagne will look like until 2034. Arte/g1 READ ALSO Cheaper imported wines lose ground with inflation, while premium labels advance 'We changed the route': agricultural producers are already looking for new markets after Trump's tariffs Where the wine comes from 'Shy' effect Felipe Galtaroça, CEO of Ideal.BI, a consultancy specializing in the wine market, assesses that the reduction in the import tariff of 27% to 24% still has limited impact on prices. According to him, the replenishment of stocks with the 21% tariff, scheduled for January, should make the price reduction more noticeable for the consumer. "The Brazilian market is currently facing a scenario of high inventories, made up of products purchased at an exchange rate significantly higher than the current one", he states. Galtaroça also states that the profit margins of importers, distributors and retailers no longer have room for further adjustments. According to him, the high volume of stocks, the wide range of brands and the reduction in retail investment, due to the high cost of credit, increased competition between suppliers and made further price cuts difficult. Growth of interest in European wines Despite the challenges faced by the sector, Juliana La Pastina states that data from World Wine shows an increase in Brazilians' interest in European wines. "In Europe, in our case, we have France as the origin of the largest volume of imports, but we have increasingly felt a greater interest in wines from Spain, Italy and Portugal", he states. World Wine operates both in direct sales to consumers and in supplying restaurants and supermarkets. Grape production grows in Goiás with the production of wines and sparkling wines