Argentina: Viticulture closes a year with a drop in exports and a rise in the price in dollars

Published 2022년 11월 6일

Tridge summary

The Argentine wine industry has seen a decline in exports, with a predicted drop of around 10% for 2022, due to factors such as international context, inflation, and difficulties in the foreign exchange market. Despite a slight increase in the domestic market, the sector has faced challenges due to rising costs and prices. The industry, which generates over US$3 billion in sales, employs more than 146,000 people and is seeking to grow in Brazil, where there are zero tariffs. The government is supporting the industry with increased refunds and lower export duties for wineries.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Argentine wine trade generates more than US$3 billion in total. This is between what is sold in the internal and external markets; according to data from the National Viticulture Institute (INV) and the Argentine Viticulture Observatory (OVA). This year the sector has shown declines in exports beyond a slight rise in the domestic market. Due to the fact that the consumption of wine in both markets is quite tied to prices; the international context, inflation and difficulties in the foreign exchange market are factors that have influenced the rise in value in dollars and therefore, in lower sales abroad. Given the trend, it is likely that 2022 will end with a drop in exports of around 10%. According to INV data for the first nine months of 2022, Argentina, the fifth largest agro-export complex in the world, exported 208 million liters of wine (-18.6%): 47.5 million liters less compared to the same period in 2021. The number is an average between bulk and bottled, with a ...

Source: Mdzol