In South Africa, the harvest is almost complete. The lowest harvest volume in 22 years is expected - currently around 1.18m tonnes.
Chile's harvest is also likely to be below average, especially in the north of the country, where a lot of generic wines are produced.
The harvest volume in Argentina, on the other hand, appears to be significantly higher than the (very low) previous year.
In Australia and New Zealand, the harvest volume cannot yet be estimated, but is likely to be below average. The reopening of the Chinese market has led to a rapid increase in demand for red wine from Australia.
Source: Ciatti Global Wine & Grape Brokers, Global Market Update, export prices in €/hl
