This year’s tricky growing season in many countries is likely to boost demand for a number of styles from less traditional sources. The WBWE fair in Amsterdam stands to benefit.
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.
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.
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.
Full cellars and continuously low demand are driving down red wine prices in Europe. While there is still a surplus of some varieties, some remain scarce.
As the Northern Hemisphere gears up for autumn with promising harvests, the global bulk wine market remains calm amidst fluctuating prices and cellar clearouts.
The global bulk wine market is entering its traditional July-August lull while the Northern Hemisphere enjoys its summer holidays. The focus is on the vineyards ahead of the hemisphere’s coming 2024 harvests, but there are currently plenty of highly-attractive bulk wine opportunities for buyers to harness.
It’s got a wine-growing history that dates back to the Roman world. It’s got more than 220 authorised grape varieties over 55,000 hectares of vineyards, and it’s one of the most exciting wine-growing countries in Europe.
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