In spite of uncertainty, exporting sectors had a good performance in the two first months of the year, except for the United States market, where exports dropped by 9% in value and 8.5% in volume.
A few days after Argentina’s government decided to devaluate the country’s peso currency, the international media is already making predictions and analyzing the situation. Moreover, in this article, some important figures of the local sector share their opinion, anticipating positive prospects for wine exports and negative ones for the domestic market.
Wine Enthusiast Magazine has developed an interactive map with information about the restrictions for wine shipping to each State of the country.
A recent report made for the “Journal of Wine Economics” spotlights the movements wine-producing countries will face with the view to the future and how their exchange rate will affect the global industry. Likewise, it mentions the impact exchange variables will have on the changes of consumers’ preferences.
Find in this article the ranking of Argentina’s most exported brands and how much foreign currency they brought for the country
Although the country exported in 2012 USD 15 million, its record, 2013 was not very encouraging. In the first six months of the year, the total wine exports from Argentina to Japan suffered a 15% drop by turnover and 19% by volume.
Although Argentina’s exports to Brazil, Paraguay, Mexico, Peru, and Venezuela do not show an excellent performance, the proximity of the country to these destinations, including the language and the similar character, helps to consolidate Argentine wines’ positioning.
In the first half of the year, Argentine exports to this destination garnered USD 9.5 million and 4.3 million liters, according to data from the National Institute of Viticulture (INV). The growth rates were 39% and 87%, respectively, compared with 2012.
Malbec and Torrontés Riojano grow and gain space against other varieties. In the last years, the importance of Malbec in Argentine exports has been on the up, going from a share of 26% in 2007, to almost 47% in 2013. While, the Argentina’s signature white variety is not far behind.