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.
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.
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.
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.
After two years of pandemic, 2022 will be remembered as the year when, like other sectors, the wine industry had to come to terms with a very different world.
Tradition demands the participation of individuals who are dedicated to preserving it. For the Trentino winegrowers’ cooperative Mezzacorona, this involves safeguarding the indigenous grape varieties Teroldego and Marzemino, showcasing their qualities both as monovarietal wines and in blends.
