Buyer caution persists; Northern Hemisphere vines advance apace

Good early interest levels in the Southern Hemisphere’s new 2026 wines waned through June into early July, as Northern Hemisphere summer and Southern Hemisphere midwinter holidays started getting underway before many enquiries could translate into transactions. The reality is that, with bulk inventory large in most supplier countries, pricing generally trending softer, and wine’s retail sales continuing to decline in major markets, buyers feel little urgency to secure volumes.

Wine sales volumes fell by 5% globally in 2025, according to recently-published data from International Wine & Spirits Research (IWSR), outpacing the overall 2% fall in alcohol beverage volumes. (The sparkling and no-alcohol wine categories experienced growth.) A follow-up bulletin from Wine Australia set out ISWR’s volume sales findings by major consumer country, starkly illustrating the case-good decline led by the US but also substantial in Europe, the UK, China and Argentina. Long-term structural shifts, combined with post-pandemic macroeconomic pressures, have resulted in lethargic retail demand which buyers can sufficiently meet with incremental purchasing of small volumes on a just-in-time basis.

This month’s Global Market Report details the bulk-wine market activity that has occurred – on what wines, at what pricing. Paid subscribers also have access to the Global Pricing Grid – July’s is here – which tracks indicative bulk wine prices across the major producer countries, making international price comparisons easier. It is a tool that assists buyers in identifying those countries offering the best value for specific wine styles and – when used in conjunction with the Global Market Report – can signpost current opportunities offering a particularly attractive price-quality ratio. Given current inventory levels, eye-catching opportunities are out there for those buyers seeking quality wines or innovative wine products with which to aggressively compete on retail shelves – and so help the wine category as a whole attract lapsed and new consumers.

Some Northern Hemisphere growers are returning from their pre-harvest holidays early: it has been a very hot summer in Europe, with – so far – intense heatwaves in each of May, June and July. This month’s report relays the extents of the ensuing advanced growing cycles, as well as vine health and yield potential.

Meanwhile, California’s vineyards are even further in advance of a normal timetable, although due to an unseasonably warm February-April rather than any summer heat spikes: veraison appeared to be almost universally underway across the state in time for July 4th celebrations, potentially the earliest in at least 20 years. Just a reminder: paid Global Market Report subscribers get free full access to Ciatti’s monthly California Report, which offers a comprehensive drill-down into the state’s bulk wine and grape markets and bulk wine inventory.

Read the full Ciatti Global Market Report for July

With its global reach and local connections, Ciatti’s experienced broker team is on hand to bring suppliers and buyers together in mutually beneficial partnerships. Don’t hesitate to reach out to us via info@ciatti.com or by clicking here for more contacts.