By Mariano Zalazar for WineSur.comAfter the crisis provoked in 2008, the whole world showed signs of recovery and Argentina grew excessively. However, the context starts to change and the uncertainty increases in many wine countries.
Argentine wine exports in thousands of dollars have boosted considerably in the last decade. In a way, this fast growth is due to the fact that the exchange rate has favored wineries and let them replace their competitors in other countries.
Javier Merino, Industrial Engineer, holder of a Master’s degree in Project Evaluation and director of Área del Vino highlighted: “in 5 years, Argentina grew by 350 million of dollars in exports. It should be taking in mind that almost 200 million have been reached thanks to Malbec. During the world crisis, Argentina took advantage of the “trade down”. However, in the last few months, the world is recovering and Argentina continues its expansion but slowly.”
According to data provided by Área Premium of Área del Vino, Javier Merino stated that Malbec has slowed down its rate of growth in terms of value between 2010 and 2011, compared with 2009/2010 period, going from 33.5% to 26.9%. On the contrary, Cabernet Sauvignon has turned its figures from 5.1% to 11,2%, comparing the same periods of time.
Drop in Argentina and Italy’s local consumption
The director of Área del Vino explained the reality of Old World’s countries, and where Argentina get involved.
“That is the case of local consumption in which Argentina did not...Read Full Article
