In detail, during the first two months of 2023, 104.5 million liters of wine were consumed in the country, while In the same period this year, 99.9 million were sold, about 4.6 million lessaccording to the report carried out by the National Institute of Viticulture (INV).
It turns out that, In the first two months, wines jumped 37.6% in January and an additional 10% in Februaryaccording to him Wine Index made by Vinodata. In contrast, salaries in the first month of the year alone lost 21% in real terms compared to the same month of the previous year, according to the Center for Political Economy (CEPA).
The sales of White wine in the January-February two-month period they fell above those of “color“: while the first one went down a 6% (minus 18,199 hectoliters) the second did just one 3.7% (about 27,720 hectoliters less).
Wine consumption fell by three quarters
According to data collected by the INV, The most significant drop was in the traditional 750 cm3 bottleswhich are generally the most expensive as well. Wine sales in this format fell 8.6% year-on-year in the first two months of the year, which explains 3.7 of the 4.6 million who stopped consuming.
The first two months were also negative for wine sales in 1,500 cm3 bottle (-0.7%), in Tetra Brik (-0.3%), in demijohn (-30.5%) and in can (-44.7%), among other formats.
As with wine, a survey of the Chamber of Meat Industry and Commerce (CICCRA)that meat consumption fell by 8.2% in the first two months and the sector warned about the possibility of entering into a crisis similar to that of the exit from convertibility in 2002 if the liability liquefaction via inflation.
He Consumption Indicator of the Argentine Chamber of Commerce (CAC)which measures the evolution of the consumption of goods and services in households, in February marked a decline of 3.5% in the year-on-year comparison, deepening its bearish trend and it already added his third month with contraction. Furthermore, it was the second largest drop in the Consumer Index since March 2021 (exceeded only by the drop in November 2023).
Likewise, according to a report by the consulting firm Focus MarketIn February of this year, mass consumption showed a decrease of 13.4% year-on-year and 6.6% compared to January. Although inflation is slowing down, this is because there is no demand, as a result of the liquefaction of Argentines’ salaries. “Although in February the prices of mass consumption goods rose to a level lower than the one they had been registering in the previous month They are still well above the possibilities of access by Argentines”, he pointed Damian Di Pacedirector of the consulting firm.
Source: Ambito
