Argentina exports up but UK slumps

Published: 23 July, 2008

Global exports of Argentinian wine are up more than 35%
by volume and nearly 24% by value - but the UK has suffered falls of nearly 11% and 17% respectively.

Latest figures revealed in a report by Caucasia Wine Thinking show that overall, 75.3 million litres of Argentinian wine were sold in the first three months of 2006, compared with 55.7 million over the same period in 2005 - a rise of 35.2%.

By value, the increase was 23.9%, from US$81.9 million (43.47m) last year to US$101.47 million (53.86m) this year.

But in the UK, sales dropped 17.3% by volume, from 475,995 nine-litre cases to 393,414 cases, and dropped 10.9% by value, from US$8.2 million (4.3m) to US$7.3 million (3.8m), the only country in the top 10 to register a loss.

The average case price (FOB) in the UK rose by nearly 8%, from US$17.25 (9.15) to US$18.60 (9.87), but globally, the average price per litre fell by 8.4% from US$1.47 (0.78) to US$1.35 (0.72).

The report states: Bulk wine was definitely the outstanding product. Although the price suffered a strong decrease, the volume was duplicated, and had been responsible for 50% of the total volume growth. In other words, for every two additional litres exported this year, one was in bulk.'

It added that Pinot Noir and Sauvignon Blanc were the two varieties showing the highest level of growth.

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