Although a larger wine harvest is expected than in the previous year, prices in South Africa are rising. One reason could be that there are few 2022 stocks, and another is that even if the harvest is higher, it will still be below the five-year average.
Prices for New Zealand Sauvignon are falling, despite a harvest that's expected to be smaller than in the past two years. Argentine Malbec is also falling, though the price drop is unlikely to be related to the planned reforms of the new president, Javier Milei.
