Amid a globally slow sales picture, activity on the bulk wine markets of France, Spain and South Africa managed to tick up through April into early May, for a variety of local reasons.

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In the annual report on the global wine industry, the OIV highlights significant shifts taking place. Germany is no longer maintaining its position as the world's leading importer, and a new export champion from the New World has emerged. Clemens Gerke reports.

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Global economic uncertainties are causing caution in the bulk wine market. 

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A common theme in this month’s Ciatti Global Market Report is the noticeable slowdown in European demand for bulk wine with a slowdown in turnover on the retail shelf. A longer term slide in key markets cannot be ruled out.  

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Below-average harvest volumes expected in many countries. Buyers nevertheless react cautiously. Domestic buyers dominate many markets.

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US imports of bulk wine of around 4.88m, hl marked a new record. Total volumes were 10% higher than in 2021.  

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Activity on the bulk wine and grape markets in January occurred mainly in the Southern Hemisphere, now that picking of its new 2023 vintage is underway and crop expectations begin to influence buying and selling behaviour.

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The year 2022 was characterised by high inflation levels and rising interest rates and logistic problems. As every January, this month’s Ciatti Global Market Report looks back at the year just passed and ahead to the new one.

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High inflation levels and rising interest rates in many markets around the world have engendered pessimism as to the retail sales outlook. Food inflation has generally been lagging overall inflation’s levelling-off trajectory, encouraging consumers to cut back on supermarket spending. In this context, global bulk wine activity has proceeded cautiously through the final quarter of 2022 while sales are carefully analysed; no one wants to find themselves overstocked, or having paid too high a price. Report by wine broker Christian Jungbluth from Ciatti.

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