MercoPress. South Atlantic News Agency
“Unprecedented declines” in Chilean wine exports: China and UK worst cases
“In this period, all ten of our main consuming markets have experienced declines in wine exports,” reported Wines of Chile Chile reported in the first half of 2023 “unprecedented declines” in wine exports, totaling 20 million boxes and 584 million dollars, which represents a 24% decrease in both volume and value compared to the same period last year, according to Wines of Chile.
“In this period, all ten of our main consuming markets have experienced declines in wine exports: China, which continues to be our foremost destination in terms of value, has seen volume and value reductions of 40% and 37%, respectively,” the report stated.
Alongside China, the markets that witnessed the most decreased their imports were the United Kingdom, Japan, Canada, the Netherlands, the Republic of Korea, and Mexico. Wines of Chile pointed out that Brazil, the second destination in value (but the number one in volume), managed to “resist somewhat better.”
Chile is the fourth-largest wine global exporter, trailing behind only European countries with extensive winemaking expertise, such as France, Spain, and Italy. In June, exports of bottled wine recorded a contraction compared to the previous year, with 3.8 million boxes shipped, amounting to US$115 million in value. According to the report, this marks a significant reduction of 33% in volume and 32% in value.
Wines of Chile attributes the current situation to the deterioration of the international landscape and the accumulated wine stock.
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Read all commentsThat's a shame. I used to love Chilean wines. I stopped drinking them only because I gave up alcohol
Aug 17th, 2023 - 11:02 am 0brasherboot
Aug 17th, 2023 - 03:58 pm 0It's sad for my country, but it's a worldwide problem as there is a current serious oversupply.
Fortunately my family converted our small farm to producing table grapes and avocados.
Many of neighbors though I was foolish due to high labor costs, but no one expected the high influx of immigration we've experienced.
We've been successful focusing on the UK and USA markets. (Primary TESCO and Wegmans.)
Best regards in enjoying Chilean table grapes!
¡Saludos de Panquehue!
The big problem is the lack of money in the pockets of Western workers.
Aug 18th, 2023 - 02:48 pm 0Only a tiny fraction of Western people can afford to consume superfluous products.
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