Argentine wine exports in May this year leapt by 29% year-on-year, according to figures released yesterday. The Argentine National Viticulture Institute (INV) said that exports for the month hit US$16.8 m (€13.64 m).

The volume of wine exports fell by 23% year-on-year for the month, however, to 113,280 hectolitres. The volume decrease was blamed mainly on the large volume of wine exports in May 2003.

The main takers of Argentine wine in May were Japan, the UK, France, Germany, Denmark, Russia and Brazil.

For the calendar year to May, exports totalled US$76.2 m (€61.89 m), a rise of 29% year-on-year. Export volumes for the first five months of this year stood at 514,817 hectolitres, up 10.76% year-on-year.

In 2003, Argentina's wine exports rose to an all-time high of US$224.9 m (€182.65 m), up 25.3% year-on-year.