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CHILE: Wine export growth shrinks on falling prices

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Chilean wine exports registered slow growth after the average price of wine dropped from US$2.15 to US$1.90 per litre during the year to November. 

The period's 3.2% increase in export sales was disappointing to winemakers considering last year's 16.3% growth.

ChileVid, the trade association comprised of 35 emerging wineries in Chile, said the price drop occurred because growing export volumes favoured lower-priced bulk wines.  Sales of exported bulk wines grew 50.2% during the term.

Dropping prices were also fueled by industry-wide overproduction that followed industry growth in 2000.

Chilean winemakers exported 286.2m litres of wine for a total of US$545m during the period.  Most of the 2001 export growth derived from exports to Europe, which grew 6.8%t.  Exports to North America grew 0.9%, while exports to South America dropped 0.8%.

The ChileVid general manager said that he is slightly optimistic that wine prices will recuperate.


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