Argentina will probably report a 40-45% below-average harvest, with a total volume of 1.4-1.5m tonnes currently expected. On April 5, 2023, the Government introduced an exchange rate-fixed "agro dollar", which applies to soy and other agricultural products. It sets the exchange rate at AR$300 per dollar for a limited time. New bulk wine price quotations are still not available.
Chile and South Africa are in the process of converting their bulk wine to the new 2023 vintage, which in the case of Chile is having a partly negative effect on prices. Syrah in particular is plummeting, while demand for 2023 whites is said to be good.
Californian export euro prices are dropping a little because of the exchange rate.
