European Bulk Wine: Is the Puglia Boom Over?

Grape prices in Italy, particularly in Puglia, have fallen significantly, while Veneto Pinot Grigio prices are rising. Spain expects a strong harvest, while France anticipates a smaller crop than usual.

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The prices for Italy have not yet been released. Source: Ciatti Global Wine & Grape Brokers, Global Market Update, export prices in €/hl
The prices for Italy have not yet been released. Source: Ciatti Global Wine & Grape Brokers, Global Market Update, export prices in €/hl

There are no current bulk wine prices available from Italy. However, based on data from the Med.&A. Broker Association and the UIV Wine Observatory, the Osservatorio del Vino has published initial grape prices via LinkedIn as an indicator. Prices, particularly in Apulia, for generic red (–27%) and white (–30%) grapes are significantly lower than last year. IGP grapes (Sangiovese, Trebbiano) from Apulia are experiencing a similar fall in price. On the other hand, prices for Veneto Pinot Grigio have risen by around 10%, while Glera grapes have seen a slight decrease (–4%), although the trend is generally upward.

In Spain, estimates now suggest a harvest volume of around 43m hl, with good quality expected—excluding the eastern regions. Official prices are not yet available, and we can only provide price estimates from experts. In France, a harvest of just under 40m hl is expected, but unlike Spain, this would be considered quite low.

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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.

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