Bulk wine pricing around the world is generally in a stable to softening trend as a number of downward pressures on prices offset the upward pressure from elevated input costs: the stop-start nature of buying activity in most markets; some large inventory levels – primarily of reds – in Argentina, Australia, California and France; lower 2023 grape prices in Chile versus 2022; a larger than expected 2023 crop in New Zealand; Rand weakness in South Africa. It should be underlined that buying activity continues, but much of it is for short-term needs, with buyers seeking smaller volumes for quicker loading.  The slow nature of most consumer sales channels in most countries has disincentivised the opportunistic buyers who might normally – especially with freight costs greatly reduced and logistics efficiency markedly improved versus a year ago – come into a long market and get creative with new brands. Instead, winery focus is on inventory adjustment, assessing

Afternoon Brief, October 28th

Federal Regulators Descend Upon Nation’s Largest Alcohol Wholesaler: Federal regulators descended upon the Union City offices of the country’s largest liquor wholesaler on Wednesday, spending most of the day at the Southern Glazer’s Wine & Spirits building on Dowe Avenue...