Chile reports “unprecedented declines” in wine exports

Chile reported in the first half of 2023  “unprecedented declines” in wine exports, amassing 20 million boxes and 584 million dollars, marking 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.”

See below a chart displaying Chilean wine exports between Jan 2019 and May 2023, according to the DataLiner maritime data service.

Chilean wine exports | Jan 2019 – May 2023 | TEU

Source: DataLiner (click here to request a demo)

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.

The organization attributes the current situation to the deterioration of the international landscape and the accumulated wine stock.

Source: Revista Adega

To read the original news report, see: https://revistaadega.uol.com.br/artigo/wines-of-chile-divulga-relatorio-que-revela-quedas-sem-precedentes-das-exportacoes.html

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