Incremental buying keeps bulk market ticking over In its ‘World Production Outlook: First Estimates 2025’, published in late November, the Organisation of Vine & Wine (OIV) estimated global wine production at between 228 and 235 million hectolitres. The mid-range projection – 232 million hectolitres – would, the OIV stated, represent a 3% recovery from the provisional 2024 figure of 225.8 million. We suspect the OIV’s midrange projection could be an overestimate, as it includes a questionable expectation of the US harvest: rather than larger as the OIV states, California’s 2025 crop is widely assumed to have come in even smaller than 2024’s twenty-year low. Widespread non-harvesting of uncontracted grapes meant a disparity between crop potential and the tonnages that in fact crossed the scales. The OIV’s estimate of Italy’s harvest could also be downwardly revised, after reports that some deleterious effects from adverse condit

Sampling is in full swing on the Southern Hemisphere’s 2025 vintage and quality has been rated very positively. The great majority of sampling activity is being carried out by longstanding customers with established programmes and tenders; new buyers, and new programmes, are few. Only Chile and New Zealand experienced non-average crop sizes but in contrasting ways – Chile’s was as much as 25% short, New Zealand’s is expected to have been “very large” despite fruit going unpicked in response to generous carryover stocks.  The shortness of Chile’s crop triggered brisk early sampling by international buyers and the securing of batches by domestic buyers. Even in this context, however, the lack of new international business has been noticeable. In the Northern Hemisphere, meanwhile, bulk wine markets have been proceeding steadily, with activity largely consisting of incremental demand for small volumes on a just-in-time basis.  The persi

Sampling is in full swing on the Southern Hemisphere’s 2025 vintage and quality has been rated very positively. The great majority of sampling activity is being carried out by longstanding customers with established programmes and tenders; new buyers, and new programmes, are few. Only Chile and New Zealand experienced non-average crop sizes but in contrasting ways – Chile’s was as much as 25% short, New Zealand’s is expected to have been “very large” despite fruit going unpicked in response to generous carryover stocks.  The shortness of Chile’s crop triggered brisk early sampling by international buyers and the securing of batches by domestic buyers. Even in this context, however, the lack of new international business has been noticeable. In the Northern Hemisphere, meanwhile, bulk wine markets have been proceeding steadily, with activity largely consisting of incremental demand for small volumes on a just-in-time basis.  The persi

Global wine consumption in 2024 is estimated by the Organisation of Vine & Wine (OIV) to have reached 214.2 million hectolitres, down 3.3% versus 2023 and the lowest level since 1961. In its recently-published 2024 industry report, the OIV attributed the decline in consumption – which has “followed a relatively steady trajectory since 2018” – to significantly reduced Chinese demand and the post-pandemic inflation surge which, although having cooled since 2023, still restricts consumer purchasing power to this day. Elevated input costs have made it harder for wine to compete against alternative beverages able to charge a lower price per unit of alcohol.  The OIV estimated global production in 2024 at 225.8 million hectolitres, 4.8% down versus 2023 and, again, the lowest level since 1961. This is attributable to climactic conditions but also market adjustments, as vineyards get mothballed or pulled out altogether in response to low winegrape demand. Glo

As the end of 2024 approaches, we are able to look back over a year on the global bulk market that was, despite common perception, different from its predecessor. December 2023’s Global Report began: “A year of flat or declining wine sales owing to consumer pessimism draws to a close with bulk markets exhibiting the same slowness they have done throughout the previous eleven months.” But the bulk market of 2024 has reassumed something of its traditional character, i.e., with activity levels differing between supplier countries, very crudely summarised as follows: short and active (Chile, Italy), long and less active (California, France), elevated in price therefore less active (Spain, Argentina), steady (Australia), and very low on stock (South Africa).  The main cause of any activity upswings and/or elevated prices has not been increases in retailer/distributor demand – which has remained patchy – but two consecutive years of lighter crops: the OIV&

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Afternoon Brief: Asheville Winery Destroyed During Helene Uncertain About Future

More than three weeks after Helene destroyed parts of western North Carolina, an Asheville winery that connected neighbors to the regions history, is left with nothing...

Having largely adhered to a normal timetable, the Northern Hemisphere harvests are now winding down: France and Italy are currently projected to produce crops short of their five-year averages by 11% and 12.8% respectively, while California is on course for a crop – guesstimated at 3.2-3.3 million tons – short by long-term historical standards but in fact not far off the 3.5 million tons that is the five-year average since the state’s 2018 crop, the last to reach the 4-million-ton mark. Only Spain’s crop is expected to near its average, although a rainy end to the growing season is likely to rein-in availability of 11%+ alcohol wines.  None of this news has stimulated a great deal of extra activity on the bulk market. Last year Italy experienced its shortest crop in five decades, with ramifications for demand levels in Spain and, in turn, ripple effects further afield. Partly in response to that demand, Spanish prices have increased and Italy’s crop,

The global bulk wine market was largely quiet over the past month, with only Chile and Spain reporting steady activity. Prices in these two markets have risen in recent months in response to their respective shorter harvests and healthier – or at least perceptions of healthier – demand versus last year. Generic white wine is in tightest supply; this item and varietal whites spearhead demand, and the campaign for Spain’s 2024 whites is likely to commence quickly. An uptick in buyer enquiries has continued in California, potentially due to prices softening as the new crop nears, but only some of this activity has so far translated into deals.  The market is entering its traditional lull while the Northern Hemisphere enjoys its summer holidays. Current vineyard conditions suggest the overall crops in California, France and Spain are on track to be at least in the vicinity of their averages; only Italy – at the time of writing – is a concern, experiencing