Saturday May 6, 2023 | 5:00 p.m.
The price of wine grew 21.3% in April, compared to March, after two months of increases below the Consumer Price Index (CPI) of the National Institute of Statistics and Censuses (Indec), according to the Vinodata research center .
According to Vinodata’s Argentine Wine Market Price Report, its Wine Price Index (IPV) registered a variation of 21.3% in April compared to the previous month, after two months with increases lower than the CPI .
This suggests a possible seasonal pattern in the price rebranding strategies in the sector (or an acceleration in the pace or magnitude of rebranding): in April more than 80% of the bottles surveyed registered increases, against 51% in February and 28 % in March, they explained from the research center.
Between October 2022 (the month in which the IPV series begins) and March 2023, a certain heterogeneity is observed in the evolution of the IPV according to the price range, the report indicates.
What types of wines registered increases?
In the period, bottles of less than $700 (prices to April) registered an increase of 53%, while in all the remaining ranges the increases were greater than 60%.
This pattern underwent a partial reversal in April, when all price ranges for wines under $3,500 posted increases of more than 20%, while labels over $5,000 saw average increases of 13%.
Regarding types of grapes, the highest price increases occurred in orange (77%) and rosé (64%) wines, while sweet wines were the ones that increased the least (44%).
By province of origin, the greatest increases were observed in wines from Neuquén (68%), Río Negro (63%) and San Juan (62%); meanwhile, wines from Salta registered the lowest increases (55%), always in the period October 2022-April 20233.
The ranking of prices by province of origin is headed by the “emerging” group (the median price stands at $5,400), followed by Río Negro (almost $4,500); while the wines of San Juan ($1,450) and La Rioja ($1,964) are the ones with the lowest relative price.
