The bulk wine update provides grapegrowers and winemakers with an indication of supply and demand for commercial wine on the global market and the competitiveness of Australian wine. The report summarises global prices for bulk wine from Australia and other countries. Bulk wine prices are taken from the Ciatti Global Market reports published monthly.

The report includes:

• Australian bulk wine prices for the latest month by variety
• Comparisons of price for the same month over the past 3-4 years
• Commentary and context on the main trends

Varieties include: Shiraz (Syrah), Cabernet Sauvignon, Merlot, generic red, Chardonnay, Sauvignon Blanc, Pinot Gris/Grigio and generic white.

The report is updated quarterly.

Report summary

The February 2022 bulk wine update shows that Australian bulk wine prices for the major red varieties were significantly lower in February 2022 than in the same month in the previous five years, while prices for white varieties have generally increased or remained at a similar level, except for Pinot Gris/Grigio, which has declined since February 2018.

There has been a substantial decline in prices for Australian red varieties on the global bulk wine market since early 2021, after the imposition of significant tariffs on Australian wines by the Chinese government reduced export demand, and a record harvest of over 2 million tonnes increased supply.

The prices for white varieties have held up relatively well over the year, but were lower in February 2022 than they were two years ago, despite the continuing shortage of white wine on the global market.

By contrast, prices for Spanish varieties were generally higher in February 2022 than at the same time last year, particularly Cabernet Sauvignon, Syrah, Moscatel and Sauvignon Blanc.

Source

Ciatti Global Market Reports – updated monthly.