The global bulk wine market heads into the second quarter of 2024 seemingly more fluid than it has been for months, with some good activity levels on particular wines, some price rises, some price falls, and some supply shortages.
The global bulk wine market was relatively active in the first six weeks of the year compared to the slowness of the second half of 2023. Where has the activity occurred and what is the latest news from the Southern Hemisphere’s vineyards, where harvesting is getting underway?
As every January, this month’s Ciatti Global Market Report looks back at the year just passed and ahead to the new one. If 2022 was characterised by rising annual inflation levels and a supply chain crisis, 2023 will be remembered for interest rates rises and slow buyer demand.
A year of flat or declining wine sales due to consumer pessimism draws to a close with bulk markets in December exhibiting the same slowness they have done throughout the previous eleven months. Transactions are, on most wines in most markets, incremental and price-sensitive.
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.