Spanish wine loses momentum in Latin America after breaking records in 2022

Exports of Spanish wine to Latin America and the Caribbean fell by 11% in volume and value in the first nine months of 2023, after having broken historical records in 2022, when they grew by close to 20% in liters and 30% in euros. In detail, Spain sold between January and September to Latin America and the Caribbean a total of 48.2 million liters worth 143.6 million euros, at a stable average price of 2.98 euros per liter, according to the data. of Spanish customs analyzed by the Spanish Observatory of the Wine Market (OEMV). With this result, the region loses share in total Spanish wine exports and now represents 3.2% of the volume and 6.7% of the turnover. The general director of the OEMV, Rafael del Rey, has explained to Efeagro that this negative performance of exports is in line with the “general progress” of the wine markets, “which in recent months have been weakening everywhere.” In the analysis by category, packaged still wine led Spanish exports to Latin America and the ...