In the first half of 2024, Spain increased its exports by 1.5% in value and 0.3% in volume. The main losses occurred in the market for wines with protected designation of origin, while sparkling wine sales also weakened.
The introduction to our Global Report of August 2023 stated that “pockets of activity exist but these feel like exceptions in an altogether quiet landscape.” Last year’s “pessimism in all major producer countries about the long-term drift away from wine consumption” is continuing through 2024, but the bulk wine market seems a little more active than last year.
Full cellars and continuously low demand are driving down red wine prices in Europe. While there is still a surplus of some varieties, some remain scarce.
As the Northern Hemisphere gears up for autumn with promising harvests, the global bulk wine market remains calm amidst fluctuating prices and cellar clearouts.
The global bulk wine market is entering its traditional July-August lull while the Northern Hemisphere enjoys its summer holidays. The focus is on the vineyards ahead of the hemisphere’s coming 2024 harvests, but there are currently plenty of highly-attractive bulk wine opportunities for buyers to harness.
Spanish bulk wine is turning up in bottles and bag-in-box from Portugal to Germany, but surplus stocks in Portugal have prompted producers and regions to call for greater controls – some even want quotas on wine imports from Spain. Barnaby Eales reports.
Niederösterreich, Austria’s largest wine-growing area, consists of eight independent quality regions designated as DACs, or Districtus Austriae Controllatus. They stretch in close proximity to one another, often taking their names from their own distinctive landscapes.
