Argentina Is a World Champion in Soccer. In Wine, Not So Much

The red wine market continues to be oversaturated, which in many places is leading to conversion measures in production to more white wine. Australia is also pushing down the overall market with low price levels for both reds and whites.

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Source: Ciatti Global Wine & Grape Brokers, Global Market Update, export prices in €/hl
Source: Ciatti Global Wine & Grape Brokers, Global Market Update, export prices in €/hl

The last Ciatti Report of 2022 does not list any new prizes for the newly crowned soccer world champions of Argentina. The reason for this is frost damage in October 2022, which makes it difficult to assess the situation. The bulk wine market is largely on hold for the moment. For a short time, the situation led to increased demand for Malbec from Chile, but this is already dissipating. Worldwide, high inflation rates are causing restraint on the bulk wine market.

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