January 21, 2022 5:40 pm

Malbec boosted exports of fractionated wines that grew 16.1% and improved prices

The Argentine wine exports fractionated In the first 11 months of 2021 (latest available data) they grew 16.1% compared to the same period of 2020. With data from National Institute of Viticulture, the country sold abroad US $ 756 million, U $ S 105 million more than in 2020.

The higher FOB value of exports responds to two factors: on the one hand, more volume exported, 16.2 million liters, and, on the other, at a higher average value of the exported liter that went from US $ 3.48 to US $ 3.72 in the period between January and November 2021 in relation to 2020.

The red wine exported in the bottle, and particularly Malbec, explain a large part of this increase in the value of exports. From the Argentine Wine Observatory -which depends on the Argentine Wine Corporation- they indicate that there was an important role of markets with low participation in the global market that grew significantly.

This trend is also part of the increase that world trade registered last year with the main exporters, in particular France and Italy, whose exports increased around US $ 1,600 million in each case, with increases of 32% and 39% year-on-year respectively.

American wines also did very well, their exports grew 31%. They also had increases, but in the order of 16%, Spain and Portugal. Argentina’s big competitor, Chile, rose 5.9%.

In the analysis by markets served by Argentine wines, the US $ 89 million improvement in the FOB value of shipments is led by United States and Brazil the two destinations with the highest increase in absolute value, with US $ 16.9 million (9% more) and US $ 15.6 million (28% is the increase), respectively. In total, these markets bought for US $ 200.1 million and US $ 71.3 million.

The second destination of Argentine exports is the United Kingdom that presented a development of just one percent. In the case of China, seventh destination, the improvement was 77% year-on-year, which represents an additional US $ 8.57 million.

In Canada, fourth destination, the increase registered was US $ 5.73 million (12%) and in Mexico, US $ 5.69 million increase in billing (37%). Of the eight main export markets for Argentine wine, only Netherlands showed a drop that was 13%.

The rest of the markets -the smallest- contributed US $ 34.5 million to the increase in the value of operations. In this segment they stand out Korea, France and Singapore, all in the order of the US $ 4 million increase in this period.

The flagship of Argentine wines, the Malbec, exported for US $ 427 million between January and October of 2021, with a growth of 16.5% and a participation in total exports of fractionated wine of 55%.

Of the US $ 89 million year-on-year increase in sales outside of fractioned wines, Malbec contributed US $ 60.3 million, that is, 68% of that increase, becoming the main engine of this growth. The varietal added 102 million liters exported, of the total 183.2 million liters of the fractionated.

The increase in the average price of Malbec once again exceeded US $ 4 per liter, reaching US $ 4.20, while in China and Switzerland it sells for over US $ 5 per liter. The varietal is the undisputed star in the United States, followed by the United Kingdom (where exports grew 5% above the average of the rest of the fractionated ones).

Reference-www.lanacion.com.ar

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