At this time of year we begin to get a better handle on likely wine stocks as the northern hemisphere vintage winds up. The following is an extract from the latest Ciatti Global Market update. “The 2015 Northern Hemisphere harvest is coming to an end. Estimates are coming in from around the globe and the results are mixed. Italy and France seem to have enjoyed a good year, in terms of both quality and quantity, while Spanish suppliers are reporting lower yields and smaller production than those seen in 2014.
The report in California similarly describes a year of lower yield and a decrease in overall production. We won’t know until the official reports are released, but the expectations of lower available volume in Spain and California have served to ignite activity in the bulk market. Spring in the Southern Hemisphere brings sun and warmth to Australia, and rain and snow to Chile and Argentina.
The markets in Chile and Australia continue to be active, with South Africa picking up in activity in recent weeks. Argentine suppliers continue to struggle, as the economic factors plaguing the country have continued to make business very difficult for suppliers in the region”.
To be informed, read the Ciatti report. It provides highlights of market place activity and bulk wine prices from every major wine producing country. Check the report of the Californian situation as well as Chile and Argentina.