Chilean bottled wine exports have had a better 2024, according to data released Wednesday by Vinos de Chile. However, prices continue to fall.
In May, the volume of shipments grew by 6.9% compared to the same month in 2023, while the value fell by 5.8% due to an 11.9% drop in the average price of wine. Thus, with the shipment of 4.1 million cases and a return of US$105 million, the average price stood at US$25.4/case.
The average price fell by 6.1% to US$27.1 per box.
“Most of our main destinations are performing well. Along with the increase in Brazil, which is our main market, the significant increases recorded in the United States, the United Kingdom, Japan, the Netherlands, Canada and Ireland in this period are noteworthy,” added Vinos de Chile.
In May alone, however, they noted that “our main destinations showed a mixed performance compared to the same month of the previous year, but several with significant increases. In fact, the United States stands out, with a notable increase of 41% in volume and 31% in value, remaining as the second destination of the month.”
They also noted that “with the recovery observed in 2024, shipments in twelve months are -9.3% in volume and -10.9% in value below what was traded in the same previous mobile year. In these twelve months, 44.5 million boxes have been shipped to the world for a value of US$1,268 million. The average price, meanwhile, stands at US$28.5/box (-1.8%).”
“Almost all markets continue to show declines, although they have eased. Brazil remains our main destination and has accumulated a decline of -5.6% in volume and -4% in value,” they added.
In twelve months and among the “top 10” destinations, the best average prices were: South Korea, US$37.4/box; China, with US$35/box; and Canada, with an average of US$33.4/box.
The countries that have seen price increases in the last 24 months are: Brazil, the Netherlands and Ireland. Prices in Japan, the United Kingdom and Mexico have remained relatively stable, while prices in China, the United States, Canada and South Korea have fallen.
Chilean Bottled Wine Exports: Volume Up, Prices Down in 2024
Chilean bottled wine exports have shown a positive trend in 2024, with increased volume shipped despite a continued decline in prices. This is according to data released on Wednesday by Vinos de Chile, the Chilean Wine Association.
Volume Growth Outpaces Price Decline
In May 2024, Chilean wine exports witnessed a 6.9% rise in volume compared to the same period in 2023. However, the value of these shipments declined by 5.8%, attributed to an 11.9% drop in the average price per case. This resulted in a total of 4.1 million cases shipped, generating US$105 million in revenue. The average price per case stood at US$25.4.
Looking at the cumulative figures for the first five months of 2024, Chilean bottled wine exports exhibited a 14.3% increase in volume and a 7.3% increase in value compared to the same period in 2023. Despite this growth in value, the average price per case for the period dropped by 6.1% to US$27.1.
Key Market Performances
Vinos de Chile highlighted that most of their major export destinations have seen positive performance in 2024.
- Brazil, the primary market for Chilean wine, experienced significant growth in exports.
- Other notable increases were recorded in exports to the United States, the United Kingdom, Japan, the Netherlands, Canada, and Ireland.
However, May’s performance showed mixed results for key destinations compared to the previous year, with some experiencing significant growth. The United States, in particular, achieved a remarkable 41% increase in volume and 31% increase in value, solidifying its position as the second-largest destination for Chilean wine in May.
Looking at the Bigger Picture: 12-Month Trends
While positive growth is evident in 2024, Vinos de Chile also points out that in the 12-month period ending in May 2024, shipments were 9.3% lower in volume and 10.9% lower in value compared to the same period in the previous year. This resulted in the shipment of 44.5 million cases to the global market, generating US$1,268 million in revenue. The average price per case over this 12-month period stands at US$28.5, down 1.8% year-on-year.
Market-Specific Price Fluctuations
Vinos de Chile notes that nearly all markets continue to exhibit price declines, albeit they have moderated. Brazil, while remaining the top destination for Chilean wine, has experienced a 5.6% drop in volume and a 4% drop in value.
Looking at the top 10 destination markets over the last 12 months, South Korea boasts the highest average price at US$37.4 per box, followed by China at US$35 per box and Canada at US$33.4 per box.
| Market | Price Trend (Last 24 Months) |
|---|---|
| Brazil | Increase |
| Netherlands | Increase |
| Ireland | Increase |
| Japan | Stable |
| United Kingdom | Stable |
| Mexico | Stable |
| China | Decrease |
| United States | Decrease |
| Canada | Decrease |
| South Korea | Decrease |
Despite the challenges of the ongoing price declines, the consistent growth in volume shipped signals a positive outlook for Chilean bottled wine exports. Vinos de Chile’s focus on diversifying its market reach and navigating global economic fluctuations will be crucial to sustaining this momentum and driving future success for the Chilean wine industry.
**Keywords:** Chilean wine exports, bottled wine exports, Vinos de Chile, wine industry, market trends, price trends, export volume, export value, top markets, Brazil, United States, Japan, Canada, South Korea, China, Netherlands, Ireland, 2024 export data.
