Argentina’s wine sector has begun the year with a significant turnaround in export performance.
According to figures released by the Instituto Nacional de Vitivinicultura (INV), wine exports increased by 17.9% in volume in January compared to the same month last year.
The growth marks a notable shift after a difficult 2024, when exports declined by more than 14%. The main engine behind the January rebound has been bulk wine, which surged by 59.1% year-on-year.
Bulk Wine Leads the Recovery
Within the bulk segment, unbottled white wines delivered extraordinary growth, rising by 688% compared to January of the previous year.
According to Juan Manuel Palomo, manager of the Cámara Argentina de Vinos a Granel, the recovery has not been uniform across categories.
- Unbottled varietal wines showed only a modest increase of around 100,000 liters.
- The real acceleration occurred in generic table wines, especially white wines without designation of origin.
For three consecutive years, monthly exports of these table wines fluctuated between 360,000 and 450,000 liters. In January, exports exceeded 2 million liters, almost entirely due to renewed international demand for generic white wines.
Competitiveness Regained
The Argentine sector attributes the rebound to a restoration of international competitiveness.
Market share losses that began in 2022 were largely linked to:
- Rising domestic production costs
- Exchange rate distortions
- Reduced price competitiveness
Today, greater macroeconomic stability and a more favorable exchange rate have allowed producers to adjust prices downward. High stock levels have also facilitated competitive pricing, enabling Argentina to re-enter the global bulk wine market more aggressively.
Bulk white wines are currently trading at approximately USD 0.30 per liter, positioning Argentina as an attractive sourcing origin for international buyers.
Strategic Role of Low-Priced Bulk Wine
Although margins are slim, bulk exports serve a crucial function:
- Reducing excess inventories
- Stabilizing domestic grape and wine prices
- Maintaining winery liquidity
The international market has reacted quickly. Countries such as Germany, Spain, and the Czech Republic have resumed purchases of white wines without geographical indication, often for use in private labels or blends.
Industry representatives stress that maintaining stable pricing will be key. Avoiding sharp price fluctuations will help reinforce Argentina’s image as a reliable supplier in the competitive bulk segment.
Grape Must Exports Also Increase
The positive trend extends beyond wine. The grape must sector has also recorded strong growth.
Exports rose by 37.5% in January compared to the previous year, according to the Cámara Argentina de Fabricantes y Exportadores de Mosto.
Martín Materia, president of the chamber, highlighted several drivers:
- Temporary tariff advantages for grape-based products compared to apples in the United States
- Targeted restocking by international importers
Despite the strong start, annual grape must exports are expected to remain similar to 2025 levels and below the historical average of 100,000 tons per year.
The sector is closely monitoring the Northern Hemisphere harvest in September, which could significantly influence global supply dynamics and demand.
Outlook: Cautious Optimism
The strong January figures suggest that Argentina may be entering a recovery phase after several challenging years.
However, sustainability will depend on:
- Continued macroeconomic stability
- Exchange rate competitiveness
- Stable international demand
- The outcome of upcoming global harvests
For now, bulk white wines have provided the spark. Whether this momentum extends to higher-value bottled and varietal wines will determine the depth and durability of Argentina’s export revival.
Source: Vinetur