A common theme in this month’s Ciatti Global Market Report is the noticeable slowdown in European demand for bulk wine with a slowdown in turnover on the retail shelf. A longer term slide in key markets cannot be ruled out.
Activity on the bulk wine and grape markets in January occurred mainly in the Southern Hemisphere, now that picking of its new 2023 vintage is underway and crop expectations begin to influence buying and selling behaviour.
The year 2022 was characterised by high inflation levels and rising interest rates and logistic problems. As every January, this month’s Ciatti Global Market Report looks back at the year just passed and ahead to the new one.
The red wine market continues to be oversaturated, which in many places is leading to conversion measures in production to more white wine. Australia is also pushing down the overall market with low price levels for both reds and whites.
High inflation levels and rising interest rates in many markets around the world have engendered pessimism as to the retail sales outlook. Food inflation has generally been lagging overall inflation’s levelling-off trajectory, encouraging consumers to cut back on supermarket spending. In this context, global bulk wine activity has proceeded cautiously through the final quarter of 2022 while sales are carefully analysed; no one wants to find themselves overstocked, or having paid too high a price. Report by wine broker Christian Jungbluth from Ciatti.
The global bulk wine market continues to proceed incrementally amid economic fears, though there have been some good early activity levels on specific 2022 whites in specific locations where 2021 carryover was short. Report by wine broker Christian Jungbluth from Ciatti.
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.
