International Bulk Wine: Flat Market, Despite Small Harvest

California's grape harvest has slightly fallen below average due to a late-season heatwave that accelerated harvesting. At the same time, global bulk wine markets remain subdued amid uncertainties in Argentina and other regions.

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Source: Ciatti Global Wine & Grape Brokers, Global Market Update, export prices in euros per hectolitre based on exchange rates as of 15 October 2024
Source: Ciatti Global Wine & Grape Brokers, Global Market Update, export prices in euros per hectolitre based on exchange rates as of 15 October 2024

California's total grape harvest is estimated at 3.2 to 3.3m metric tons, slightly below the five-year average of 3.5m metric tons. The autumn season was marked by an unusually late heatwave in early October, which caused sugar levels to spike and compelled producers to harvest quickly. Overall, harvest forecasts from the Northern Hemisphere have not generated much activity in the global bulk wine market.

In Argentina, the bulk wine market remains stagnant until the late frost risk subsides around the end of November. Elsewhere, according to bulk wine brokers from Ciatti, it’s more a matter of hoping for a strong year-end business than truly expecting one.


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