Saturday, June 3, 2023

World wine trade breaks a new record in value, though it falls in volume

World wine trade recorded the highest value in its history in 2022, with 37,676 million euros, 9.3% higher than in 2021 – when it already broke records after a very poor year in 2020 – due to factors such as the pandemic, Brexit Due to Trump tariffs or the decline in consumption in China.

This large increase in turnover was achieved by an average price in 2022 that increased by 14%—the highest increase in the series history—to €3.60/litre, although this was higher due to strong global inflation in the previous year. than improvement.

These are the main findings from a recent report published by the Spanish Wine Market Observatory (OeMv), the main world wine exporters – Year 2022, which indicates that the past year was one of the great business uncertainties in the world – the war in Ukraine, a A sharp rise in energy and fuel prices, a transport and supply crisis, rising costs…—, led to a 4.2% drop in the volume of exported wine to 10,477 million litres, which is 455 million less than in 2021, when It was broken. record. The world wine trade has been recording growth in both price and turnover for twenty-three consecutive months, but volumes increased only in the month of January in 2022 and to a lesser extent in August and September.

World wine trade

By wine type, all increased in price by more than 10% in 2022, meaning they all reached their all-time highs in terms of value, although only sparkling increased in volume, reaching a record. Went. Bottled wine is the main exported wine in the world, accounting for about 53% by volume and 68% of the total value, followed by bulk in liters and sparkling in euros. So far this century, sparkling wine has been the one that has grown the most in world trade in relative terms, and the one that has grown the least in price.

In a period of strong inflation, driven by higher prices in all cases, by the markets, the world’s eleven main wine suppliers increase their turnover in 2022 (in euros). However, in the case of Australia only Australia and New Zealand increased volumes, after a significant 2021, against Australian wine imports due to the almost total loss of its sales in an important market such as China, as a result of the tariffs adopted in the country. For their part, France and Italy consolidated their world leadership in value by increasing by almost 10% in a record year for both, as was the case with Spain in third, although with a much smaller increase (+2.1%). Together. , In terms of volume, Italy overtook Spain as the main world exporter two years later, as our country lost the most volume compared to 2021 (-249 million liters). The United States, which exported more wine in the year 2000 than in 2022 (however, France has more than doubled its turnover).

Role of spain

In these twenty-two years, Spain became very important in world trade in terms of volume compared to Italy and France, both taking the lead as the world’s great bulk wine exporters, selling mainly to other producers. The French and Italians, on the other hand, have progressively focused their sales on higher priced wines, which is why they have grown more than Spain in terms of value over the years.

In this sense, Spain recorded the cheapest average price among the world’s eleven main sellers in 2022, not only because of the largest share of wholesale, but also lower than the rest in all categories with the exception of bagged-in. Also because of the prices. box (Australia down the back.)

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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