The price of wine in November shot up 13.9% and in the last twelve months it reached 180.9%according to the report of Vinodataa research center applied to the analysis of the Argentine wine market and industry of the Faculty of Economic Sciences of the UBA.
In this way, the cost of the alcoholic beverage was 1.1 percentage points above the inflation of that month, which marked 12.8%. While, In the year-on-year comparison it advanced 20 pp more than the Consumer Price Index (CPI) which measures the Indecwhich was positioned in 160.9%.
The variation in November represents a strong acceleration compared to October, when it increased by 8.1%, below the CPI which marked 8.3% in the tenth month of the year.
Wine index: Which were the ranges with the greatest increases?
Within the work carried out by the team of researchers led by Andres Lopez and Nicolas Grosmanit was noted that “the vast majority (77.9%) of the labels included in the sample registered price increases in November” and that “the average price increase observed on said labels reached 19%.”
In the month of November there were large differences between the rate of increase according to the price ranges of wines. However, Vinodata He highlighted that “three cheaper ranges (wines whose prices reach up to $4003) had increases somewhat higher than those of the three highest ranges”
In this way, the first registered increases of 14% or slightly more, while the rest were below that level and in the case of wines over $11,119 the increase was 12.9%.
Although in the year-on-year comparison, the increase observed is greater for the more expensive labels. “Bottles with prices above $11,119 rose by around 222% and the three previous ranges had increases between 208 and 211.7%”
For their part, wines with prices less than $1,557 accumulated increases of 128.4% in the last twelve months, below year-on-year inflation.
Wine index: What were the grape varieties with the greatest increases?
The increases in November were led by sweet wines (20.9%) and orange wines (17.1%), while white wines were the ones that registered the smallest price variations, averaging 12.9%.
Although, in interannual terms, the wines that increased the most were those of orange selections with a cumulative close to 240%. For their part, the sweets They increased 144.3% in the last 12 months, below inflation, despite their performance in November.
Regarding the evolution by varietal, in November the ranking of increases was led by Cabernet Franc (15.1%) and the blends of red grapes (15%)while the smallest increases were observed in bottles of Chardonnay (11%) and Pinot Noir (11.3%).
In the year-on-year comparison, the bends of red grapes were the ones with the greatest inflationary acceleration with a 198.1%followed by variety torrontes (191.4%). The labels with the smallest annual increases are those of Pinot Noir (162%) and Cabernet Sauvignon (166.1%).
“In the month of November, the price of a representative bottle of Argentine wine in the local market was $2,405. The simple average price of the labels surveyed during that month exceeded $13,550, while the price of a typical bottle reached $7,700,” the report concluded. Vinodata.
Source: Ambito
