Argentina is facing a historically poor harvest. To protect the wine industry, the country has set a product-linked exchange rate, the so-called "Malbec dollar". Similar measures have been taken in the past for other export goods ("soy dollar"). This is intended to mitigate the effects of the drastic inflation. There are still no new quotations for bulk wine from Argentina on the world market.
The final harvest report for California, which was even lower than expected at 3.349m tonnes, has not yet been able to heat up the market there.
