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Mai 11

ARGENTINA: Wine exports up in Q1

Tag: Ländersigi.hiss @ 17:13

just-drinks.com editorial team – Thirst for Argentine wine rose in key export markets in the first quarter of 2011, according to the latest figures from Wines of Argentina. Wine exports rose by 8% in the three months to the end of March, to 62.9m litres, said the trade body at the end of last week. Bottled wine exports increased by 2% in volume, to 42.5m litres.

But, the rebound in bulk wine exports stole the show. After suffering from weak demand last year, bulk exports increased by 80% over the quarter, albeit to only 14.5m litres.

Wines of Argentina’s figures show that consumer demand for its wines has remained strong in key export markets, particularly in the US and the UK, at the start of 2011.

The total value of exports rose more strongly than volumes in US dollar terms. Total exports rose by 17% on the same period of 2010, to $180m. Bottled wine exports increased by 16% to US$160.2m, while bulk wine exports doubled to $11.6m for the three months.

In 2010, Argentina broke its industry record for wine exports, achieving $864.5m in shipments over the year. The country’s weak domestic currency helped to boost the value of exports during the 12 months, according to investment banking group Rabobank.

In its recent first quarter report on the world wine market, Rabobank said of Argentina: „Malbec is the mainstay of Argentine wine, showing increasing volumes and prices above its South American peers.“

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