Rabobank Wine Quarterly Q3: Focus On Europe

Posted: Jul 26, 2017

Rabobank Wine Quarterly Q3: Focus on Europe

The European wine industry has undergone important changes in recent years and wineries have used different types of investment strategies to respond. There have been different avenues to success, but those that have lacked a clear strategy are the ones showing the most lacklustre results, according to Rabobank’s latest Global Wine Quarterly report.
The report says the EU remains a key region for the wine industry, accounting for around 65 per cent of global production, 57 per cent of consumption and around 70 per cent of global wine exports. In the past few years, total wine production in Europe has been broadly stable. Under the EU’s CAP wine-planting restrictions, total area under vines in Europe declined until 2015, and it is unlikely to increase significantly in the future. Worldwide consumption is also broadly stagnant. Moreover, drastic changes in aggregated production and demand are not expected in the near future.

“But this apparent stability in the wine industry hides a different reality,” says RaboResearch senior beverages analyst Maria Castroviejo. “Demand is shifting to new markets, while in the well-established wine-drinking markets, consumer patterns have evolved, confronting the wine industry with a new reality.”

Other highlights from the Rabobank Wine Quarterly Q3 2017 include:

Global supply: balanced
Global inventories of wine remain balanced to slightly tight. Bulk wine prices across most varietals are generally stable or rising. Much will depend on how the 2017 crop fares in Europe, but recent weather disruptions suggest that any major increases in inventories are unlikely in the near future.

New Zealand outlook:
New Zealand saw a somewhat smaller crop than last year, but still in line with historic production levels. US wine imports continue to rise, with New Zealand sauvignon blanc in strong demand.


Source: scoop.co.nz
July 25, 2017

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