Highlights From ProWein 2017
ProWein 2017 experienced a record number of participants—6,500 exhibitors & 58,500 visitors from 130 countries. Below are some key takeaways from Ciatti’s participation at the show:
- The global wine market feels in balance—Although certain markets are experiencing harsh weather and low yields, global production and consumption is strong and bulk wine prices should be firm-to-rising.
- Sauvignon Blanc on the rise—US consumers are seeking Sauvignon Blanc as a Chardonnay and Pinot Gris alternative. As demand for Sauvignon Blanc increases, sourcing opportunities from New World growers may arise if New Zealand cannot meet the need.
- Uncertainty about the Future of the Malbec Market—Argentina continues to experience low yields due to harsh conditions, forcing markets to source their supply from Chile, California, and South Africa. Argentina may lose future Malbec market ownership as markets are satisfied with alternative origin Malbec.
Germany is a Global Hub for Bulk Wine Exports
Countries, like the US and Chile, export Bulk Wine to Germany to take advantage of their efficient and cost effective automated bottling lines. In countries, like the US, it is cheaper to export bulk wine to Germany to be bottled, and re-export the bottled wine back to the US than it is to bottle the wine in the US.
Marketing Keeps Image and Pricing High
Marketing has established the image of international wines, keeping demand consistent despite changing prices. Marketers are keeping demand for international brands up, even as prices have doubled in markets like Chile with low harvest due to harsh conditions.
Bud Break Across Washington—Could 2017 be the “Vintage of the Decade”?
Tiny leaves and flowers have budded across Washington vines at a time consistent with the “finest vintage in the state’s long history” in 2012. With little damage caused by the heavy winter snowfall, Washington growers are optimistic for a successful 2017 vintage.