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Global Markets: Global wine output hits 60 year low

By Commodity News Service Canada
WINNIPEG, April 24, 2018 (CNS) – The following is a glance
at the news moving markets in Canada and globally.
The Saskatchewan government has introduced legislation
which would allow the province to control its oil and gas
exports, similar to a bill recently tabled in Alberta. Once
passed, the law would establish a permitting process for
people or corporations looking into energy products outside
the province. The proposal does not mention British
Columbia specifically, but Saskatchewan has said it is

supporting Alberta over the Trans Mountain pipeline
Canadian National Railway Co reported a 16.2 per cent
fall in first-quarter profits on Monday as operating
expenses shot up and the railway cut its 2018 earnings
outlook. The company said it now expects 2018 adjusted
earnings of C$5.10 to C$5.25, compared to an earlier
estimate of between C$5.25 to C$5.40. Operating expenses
rose nine per cent in the quarter as the railroad operator
spent more to move volumes during a cold winter.
The global wine output fell to its lowest level in 60
years in 2017 due to poor weather conditions in the
European Union, according to data released by International
Oganisation of Vine and Wine. Wine production totalled 250
million hectoliters last year, down 8.6 per cent from 2016.
This is the lowest since 1957, when it had fallen to 173.8
million hectoliters.

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