Argentinean wine industry exports have dropped sharply in the first two months of 2009, industry figures show.
"We expect further falls up to July, and improvements in the second half of 2009," Gaston Garcia, international trade analyst in the capital Buenos Aires, told just-drinks today (7 April).
Garcia blamed the slide on global economic gloom, and Argentinean inflation pushing wine prices up.
Figures from trade body Wine of Argentina show grape juice concentrate export volumes down 59.6%, as prices rose 37%. Widely used as a food and juice sweetener, it accounted for a quarter of wine exports by value in 2008.
Bulk wine volumes, mainly exported to Russia, fell 51.6%, while Tetrapack wines fell 46.4%, with prices for the two up 29.9% and 14.8% respectively.
Bottled wine export volumes, which represent more than half of export values, were down 3%, but Garcia predicted further falls in the next three months.