International Bulk Wine: Exports are Stable, but Pressures Remain

The end of China’s tariff dispute briefly stabilized Australia’s wine exports, but bulk shipments to key markets have declined.

Reading time: 30s

Source: Ciatti Global Wine & Grape Brokers, Global Market Update. Export prices in €/hl, based on exchange rates from August 19, 2024.
Source: Ciatti Global Wine & Grape Brokers, Global Market Update. Export prices in €/hl, based on exchange rates from August 19, 2024.

The "China Effect," following the resolution of the tariff dispute, played a significant role in keeping Australia's total wine export value stable for the year (July 2023 to July 2024). However, this effect was primarily seen in April and May. Bulk wine exports saw a decline, particularly due to reduced demand in key markets like the U.S., Canada, Germany, and France. Prices for some white wines are now decreasing.

Meanwhile, New Zealand reported an official harvest of 395,000 tons for 2024, roughly 21% lower than the previous year. Despite this, there is still 2023 Sauvignon Blanc available, and its price continues to drop. Most other countries are seeing stable prices, with South Africa showing an upward trend.

News

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.

Reading time: 1m 45s

 

 

Latest Articles