News

Buyers Start Contracting 2011 Wines

March 4, 2011 - 01:33

Harvest has begun and early indications show that this crop will be larger than last year's crop, but smaller than previously expected. Inventory levels are lower than normal for this time of year. These low levels combined with strong demand for bulk wine has caused strong demand in the grape market. Limited quantities of grapes are still available, however most of the fruit has been contracted. 2011 grape prices have reached $280/kilo and the latest estimates are for a base of $220 - $240/kilo (2010 was $170/kilo). After two months of low demand for Chilean wine, February has seen an increase in buyer activity. Wineries are giving 2011 bulk wine quotes on a case by case basis, but in general would like to know the minimum guaranteed grape price before contracting large volumes.

Posted in: Chile