According to the latest figures available from the National Institute of Viticulturea (INV), Argentina exported a total of 207.6 million liters of wine in the twelve months of 2024 (+5.6%). 11.1 million more liters were exported compared to 2023.
Of that total, 155.6 million liters (75%) corresponded to fractionated wines, with the aforementioned growth of 3.2%. The remaining 52 million liters (25%) were bulk wines (+13.6%).
The average price of total wine in the accumulated January-December period was $3.44/liter, with a drop of 1.5%. The price of fractionated wine remained stable at around $4.25/liter with a positive variation of just 0.2%. Meanwhile, bulk was quoted at 1 dollar/liter (-0.9%).
Meanwhile, sales of fractionated wine in the local market (according to official INV data updated as of November) fell 1.3% in 2024, with 7,60,000 hectoliters against 7,150,000 the previous year.
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The view of the protagonists of the wine industry
Milton Kuretgeneral manager of the chamber Wineries of Argentinaa chamber that brings together more than 150 national wineries, in dialogue with Scopetook stock of what 2024 left for the Argentine wine business.
“2024 was a year of transition and changes for the wineries. It started with more uncertainty than certainties, but it changed. We went from a moment of stress in the short term, on a day-to-day basis, commercial and operational restrictions, which marked 2023, to thinking about longer periods of market recovery. And we ended the year analyzing in detail the costs, the decrease in stocks, productivity and margins, which had a significant drop,” he explained.
Kuret analyzed the INV figures on exports and the domestic market, and made the following diagnosis: “The drop in sales in the local market It has directly to do with the purchasing capacity that the consumer may have.; “To the extent that salaries recover, there may be growth, but slight because they are changes that occur very slowly.”
“In exports what we see is that stocks have been rationalized among importers and that can give greater rotation to the products and we can expect growth, but We do not expect significant jumps either, but rather small percentages that can drive sales in a very moderate way.”he added.
Regarding expectations for the new year, Kuret highlighted: “We see positive aspects. We are starting with more predictabilitybut we have other variables that remain complex, such as profitability. At the business level The drop in profitability is worryingbecause costs increased above inflation, especially driven by operating costs such as energy and labor. Plus the variation in the exchange rate. This generates loss of profitability.”
For this reason, he explained that this year the wineries will be focused on “the replacement cost, on rationalization, on analyzing processes, increasing productivity and seeking efficiency to obtain associated levels of profitability. Always keeping in mind that These situations depend a lot on each company, the segments, the channels in which they sell; That is why we see heterogeneity in the behavior or performance of wineries facing the year 2025,” he concluded.
What were the main Argentine wines awarded during 2024?
Last year it was very prolific in recognition and awards for Argentine wines in prestigious international competitions, where they compete with wines from all over the world. Some Argentine wines that received awards in 2024 were:
Great Dante Malbec 2021. Dante Robino Winery, winner of the Uco Valley Malbec Trophy, Argentinian Malbec Trophy, and International Malbec Trophy awards at the International Wine Challenge (IWC) 2024.
Alta Yari Grand Court 2022. Bodegas Fabre, winner of the Mendoza Red Blend Trophy and Argentinian Red Trophy awards at the IWC 2024.
The Enemy Cabernet Franc 2021. El Enemigo Wines, winner of the Argentinian Cabernet Franc Trophy at the IWC 2024.
Trivento Golden Reserve Malbec 2022. Trivento Bodegas y Viñedos, winner of the Luján De Cuyo Malbec Trophy at the IWC 2024, with 96 points.
Trapiche Tesoro Malbec 2022. Winner of the Gold Medal and chosen as the best Malbec at the Sommeliers Choice Awards 2024.
Trapiche Station 83. Awarded gold in the Innovative Experiences category at the Best Of Wine Tourism competition, in Verona, Italy.
Kaiken Ultra Malbec 2021. Chosen as the best Argentine wine of 2024 by Wine Spectator, ranking 30th in the publication’s Top 100.
Zuccardi Finca Piedra Infinita Supercal Malbec 2021. Chosen as Red Wine of the year 2024 by critic Tim Atkin.
Otronia Pinot Noir 2021. Recognized as one of the five best wines from South America by the British magazine Decanter, with a score of 95 points. It was the only Pinot Noir included on that list.
Source: Ambito
