Extreme weather and early harvests: restrained market response
Most countries have this month reported into the Global Market Report with abnormal weather conditions, as the strong, developing El Niño phenomenon exacerbates extremes around the world: Western Europe has been enduring its hottest summer on record, with three consecutive months of protracted, intense heatwaves; giant Andean snows have blocked border crossings between Chile and Argentina for a month, with flash flooding at lower elevations on the Chilean side and unseasonably mild temperatures on the Argentinian; meanwhile, the Western Cape, having suffered significant flooding in autumn, has since experienced an unseasonably dry and mild winter.
While flood damage in some of Chile and South Africa’s vineyards is being assessed, and trucks in their thousands have sat stranded on Andean passes, the Northern Hemisphere has pressed on with its 2026 harvests. Both Italy and California are reporting potentially their earliest in a generation; picking in France (7-14 days) and Spain (7-10 days) is also in advance of a normal timetable. Midsummer holidays have been cancelled as growers move into the vineyards – in Europe, in stiflingly hot daytime temperatures often nearing and sometimes exceeding 40°C and tropical nights of 20°C+.
This month’s Global Market Report provides the latest news from the Northern Hemisphere vineyards – detailing yield performance so far, sugar and acidity levels, and crop-size expectations. The picture is by no means uniform, and indeed the variability across Europe between regions, areas, vineyards and rows persuaded Agreste in France, and Italy’s Assoenologi, Ismea and the Unione Italiana Vini, to postpone or cancel their annual preliminary crop forecasts.
Given the wine sales picture around the world, and some good inventory levels, it is no revelation to state that the grape and bulk wine markets have not responded frenziedly to news emanating from the growing areas. But this month’s report details the activity that has occurred – on what, where, and at what pricing. Paid subscribers have full access to Ciatti’s Global Pricing Grid; August’s is here and includes new 2026-vintage bulk wine pricing in Australia and updated pricing in Spain.
As this month’s Italy page states: “This year’s harvest commenced under something of a cloud, given rising input costs, declining wine sales globally, large 2025 inventories still remaining at some wineries, and many operators in financial peril. The industry is hoping it has reached – or is near – the bottom of its fortunes, and better days lie ahead.” The Northern Hemisphere autumn, in September and October, will help reveal what sort of bulk wine market the industry can expect to see through calendar 2027.
Read the full Ciatti Global Market Report for August
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.
Early harvest: Could lighter yields help reshape demand?
The 2026 winegrape harvest looks like it will be California’s earliest in a generation, with a significant percentage of picking on track to be completed by the end of September. This month’s California Report dives down into the harvest latest by grape variety and area, setting out timing, yield and quality.
The report details the respective responses of the state’s bulk wine and grape markets to the news emanating from the vineyards. If some yields are coming in lighter, are extra grapes getting contracted? The advanced and rapidly-progressing state of the harvest means buyers considering late moves must think fast. As we report this month: “Some potential grape deals have been complicated by optimum Brix levels being exceeded while discussions are still ongoing.”
Could a light harvest increase demand for bulk wine, including older vintages? We update our monthly bulk wine inventory charts and conduct some varietal-specific investigations into inventory by vintage year and location.
A lighter harvest, coming off the back of 2024 and 2025 crops also below the five-year average, could help rebalance supply and demand. The harvest picture will be much clearer in September – perhaps too, in turn, a sense of the direction that the bulk wine and grape markets will take over the coming year. But for market pricing to concertedly rise from unsustainable levels, and for multi-year contracting to return, the fundamental cause of the wine industry’s ongoing contraction – falling case-good sales – needs to end. This month’s report relays the latest US wholesaler depletions data from our friends at SipSource.
Read the full Ciatti California Report for August
Bulk wine suppliers are invited to list their 2025 wines with us and send in samples, and ensure they have their 2024 wines on our inventory list, so we are able to harness buyer interest as it arises.
Grape growers are recommended to inform us of the grapes they may have available next year, in 2026, so we can work to match-up suppliers with buyers.
Please contact Mark (+1 415 630 2548 / mark@ciatti.com ), Michael (+1 415 630 2541 / michael@ciatti.com ) or the Ciatti Customer Account Team ( cargroup@ciatti.com ).
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.
Harvest is early: What is the industry's response?
On June 30th, grapes for sparkling wine were picked in Santa Barbara County, the earliest anyone can remember. This month’s California Report details by region the extent to which the growing timetable is in advance, the very latest on vineyard health and yield potential, and how the bulk wine and grape markets have reacted.
With vine development advanced, the time is rapidly approaching when growers still possessing uncontracted grapes must make some difficult decisions: To continue farming those grapes? To custom crush? This month’s report details what we have been seeing in terms of what farming practices are required to help close grape deals, and provides advice on custom crushing.
The accelerated timing is also pressurizing bulk wine suppliers into finding homes for their wine in order to make tank space for the new crush, although some suppliers are willing to hold onto their inventory in the belief that, if the crop is lighter, the value of that inventory may rise. We set out some new bulk-market developments that need to be taken into account when making such a decision, and update our bulk inventory charts by volume and by varietal.
The industry is facing a critical challenge: The “new normal” level for wine demand remains unknown. Until case-good sales stabilize, long-term planning for supply and investment will be difficult, leading to a focus on immediate survival rather than future growth. As ever, SipSource provides insight into the latest wholesaler depletion volumes, while this month’s Saxco Update describes the growing shift towards lightweight bottles – and lightweight packaging in general – in an attempt to reduce freight costs.
Read the full Ciatti California Report for July
Bulk wine suppliers are invited to list their 2025 wines with us and send in samples, and ensure they have their 2024 wines on our inventory list, so we are able to harness buyer interest as it arises.
Grape growers are recommended to inform us of the grapes they may have available next year, in 2026, so we can work to match-up suppliers with buyers.
Please contact Mark (+1 415 630 2548 / mark@ciatti.com ), Michael (+1 415 630 2541 / michael@ciatti.com ) or the Ciatti Customer Account Team ( cargroup@ciatti.com ).
Good early interest in the Southern Hemisphere's 2026 wines
The Southern Hemisphere’s 2026 vintages have come onto what feel like fairly active bulk markets, although a great majority of activity consists of enquiries into, and sampling of, the new wines. While it remains questionable how many of these discussions will translate into transactions – and many of those that do are likely to be for smaller volumes than in the past – the very inquisitive reception for the new wines does support the view that current-vintage supplies are in a healthier supply-demand balance than previous vintages, some of which still languish on the market, inflating overall inventory numbers.
As this month’s France page states: “With retail and HoReCa [Hotels-Restaurants-Catering] sales proceeding sluggishly, buyers have the time to wait for the newest vintage and are extra mindful of increasingly older wines accumulating in cellars and on retail shelves, which in turn can further deter consumers.” The decent early enquiry levels into the 2026 vintage are also a reminder that wine programmes are not performing universally poorly – with some even experiencing healthy sales growth – and that new lines are still being introduced.
This month’s South Africa page is representative of the Southern Hemisphere supplier countries in stating that “interest levels towards the end of May into early June were noticeably higher than at the equivalent stage of the previous campaign”. Softer pricing – sometimes falling enough between vintages to have offset recent increases in fuel and freight prices – has definitely helped interest levels at a time when buyers are facing acute price sensitivity from an ultra-competitive supermarket sector fighting it out over stagnant consumer spending. BMO Bank, in its recently-published and highly insightful US Wine Market Report 2026 , stated that “people of all ages are drinking less alcohol in general, but the higher cost of wine relative to other beverage types is putting it at a disadvantage” – a statement that, of course, applies to nearly all major consumption markets, not just the US.
Meanwhile, the Northern Hemisphere’s bulk markets are comparatively slower, as buyers and suppliers alike turn their attention to the coming 2026 harvests. Many 2025-vintage wine stocks have been drawn down, while suppliers are pushing to clear those stocks that have not been. Western Europe suffered an unusually early heatwave through the final week of May, driven by a “heat dome” in which warm air travelled up from northern Africa and became trapped under a high-pressure system. France and multiple regions of Spain recorded their hottest ever May days – as did neighbouring countries Portugal, the UK and Ireland – and this month’s report assesses the latest conditions in the vineyards.
For detailed intel on vineyard conditions in the Northern Hemisphere, pricing and availability on the new 2026 wines in the Southern Hemisphere, and bulk activity in each market, click on the button below to go through to the full Ciatti Global Market Report for June . The Global Pricing Grid, with all the latest pricing tables, will arrive into your email inbox soon.
Read the full Ciatti Global Market Report for June
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.
Potential early harvest: How is the market responding?
With vineyard development across California continuing well ahead of a normal timetable, harvest 2026 now feels just around the corner: This month’s California Report details how suppliers and buyers of bulk wine and grapes have been responding. Many growers are starting to consider calling a halt to farming their uncontracted vineyards, if they have not done so already, which could curb desirable grape availability for those buyers planning a late-season purchase.
While April and May temperatures were mainly within a normal range, precipitation levels swung from above average in April to below in May, before the Coast received some heavy rain events toward the end of the month. April-May rainfall has led to some reports of shatter and mildew, the latter of especial concern given the number of vineyards already mothballed. This month’s report assesses vineyard conditions by region and considers what kind of harvest size can be expected.
Buyers seeking current-vintage wines must be mindful of the limited size of the 2025 harvest and – very likely – the coming 2026 harvest too. The California Report this month continues its series drilling down into the bulk inventory listed with Ciatti, first by vintage year and then by location. Some case-good programs are showing improved sale performances and this month’s SipSource update identifies some areas of positivity in US wholesaler depletions. However, overall sales stabilization remains elusive, and bulk inventory is still significant: Suppliers hesitating to accept offers are urged to “ruthlessly interrogate their options.”
The recently-published BMO Wine Market Report 2026 provided a sobering insight into wine sales in the US, stating that, in less than a decade, “the amount of wine entering the US market from California has declined nearly 25%”. It quoted a WineBusiness Analytics survey of US wineries conducted earlier this year that found only 25% were not holding excess inventory. The wine industry in California, as around the world, is experiencing acute credit and cashflow challenges and – until case-good sales stabilize – reductions in vineyard area and the number of operators will continue.
Read the full Ciatti California Report for June
Bulk wine suppliers are invited to list their 2025 wines with us and send in samples, and ensure they have their 2024 wines on our inventory list, so we are able to harness buyer interest as it arises.
Grape growers are recommended to inform us of the grapes they may have available next year, in 2026, so we can work to match-up suppliers with buyers.
Please contact Mark (+1 415 630 2548 / mark@ciatti.com ), Michael (+1 415 630 2541 / michael@ciatti.com ) or the Ciatti Customer Account Team ( cargroup@ciatti.com ).
The Ciatti Company is pleased to announce the appointment of Carter Collins to its California broker team. Carter, who is General Manager at Viticultural Management Inc., will focus on the Central Coast.
Carter said: “I’m thrilled to join the Ciatti Company as a broker, with a primary focus on grapes, bulk wine, and wine concentrate on the Central Coast. This opportunity is especially meaningful to me. Growing up, I had multiple basketball teams named the ‘Ciatti Crushers’ – all because my dad was a broker with Ciatti. It feels full-circle to now join the team myself. I’m looking forward to working with the Ciatti team and building on our strong relationships with wine and grape clients across the region.”
“We’re delighted to have Carter on board,” said Ciatti Partner and President Greg Livengood. “Carter brings to the team his wealth of experience in the Californian wine industry in general and his deep knowledge of the Central Coast in particular. Having worked alongside his father Dennis, who was a valued member of our team and a mentor to me, it is truly special to once again welcome the Collins family to Ciatti.”
You can contact Carter on +1 805 610-6510 and carter@ciatti.com
Southern Hemisphere harvests complete amid static markets
The major bulk wine markets of the world were quiet through April into early May, with increased input costs and economic uncertainty generated by the Iran war exacerbating the pre-existing – and now longstanding – buyer hesitancy. Most markets have reported seeing significant price rises on at least one of fuel, transportation and fertiliser, while some countries have already registered notable increases in annual inflation levels and, in turn, interest rates.
Amid this, the Southern Hemisphere’s 2026 harvests have finished and the new wines are starting to be sampled. This month’s Global Market Report relays the latest crop size estimates and vintage attributes. Of primary concern to producers, some of them possessing significant carryover inventory, is the market demand that awaits them in the next few weeks as their wines become available and pricing is established, as it will be a gauge of how active – or not – the 2026-vintage buying campaign may be. This month’s report sets out what activity has occurred.
The International Organisation of Vine & Wine (OIV), in its just-published ‘State of the World Wine Sector in 2025’ report, estimated last year’s global wine production at 227 million hectolitres, only 0.6% above a 2024 output that was the lowest recorded since at least 1961. The lighter crops of recent years have helped right-size some current-vintage inventories, in turn upping some grape and/or bulk wine prices over the past 12 months.
However, suppliers must bear in mind that global wine consumption continues to decline: the OIV also estimated that consumption in 2025 was down 2.7% versus 2024 and 14% smaller than in 2018. What have traditionally been the ten leading wine-drinking countries all experienced falls in 2025, with Portugal (+5.6%), a rare good-news market, breaking into the top ten ahead of Australia (-2.2%) and China (-13%). Pressure from retailers for supply is therefore weak. Furthermore, given their own cost pressures and their knowledge that wine stocks still outstrip demand, retailers/distributors are more price-sensitive than ever before. As this month’s Spain page states: “Suppliers will need to be mindful that, in a globally interconnected marketplace, buyers have alternative options and are becoming well-practised at using them.”
Excess supply has enabled some increased experimentation as the industry strives to better meet consumer tastes. This month’s report, for example, makes mention of the growth in low/no-alcohol wines and wine-based RTDs. However, the low/no category is growing from a very low level, while wine-based RTDs currently represent only a small fraction of an RTD category dominated by spirits and malt.
As well as taste, the industry must strive to meet consumer price preferences. In some markets consumers are currently getting an enhanced deal, with premium wines having been redirected into bulk and – at retail – the presence of price-aggressive private-label wines and discounted brands. These lower shelf prices, combined with reduced volumes, are potentially unsustainable for many wineries and – ultimately – growers. Delayed payments and vineyard mothballing/removals are currently widespread.
Read the full Ciatti Global Market Report for April
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.
Vineyards advanced; grape and bulk markets stalled
The topsy-turvy start to the growing season in California continued through April into early May, with the first quarter’s unseasonably high temperatures giving way to some cooler than normal conditions and heavy rainfall in some areas. A lack of winter lows conducive to dormancy, followed by the changeable spring conditions as budburst, shoot growth and flowering moved underway, has led to highly variable vine development – sometimes on the same row or even the same vine, let alone between vineyards or areas.
This month’s report relays the latest observations on vineyard health, development and timing, and seeks to better define what is likely to be as important a factor in the 2026 harvest’s final size – farming minimally: What is the difference between mothballing a vineyard and resting it? If growers with uncontracted vines needed further incentive to ease up on farming this year, the Iran war has provided it: Fuel surcharges and, most of all, fertilizer and sulphur prices are on the rise.
Meanwhile, supply – or rather, holding excess supply – continues to be something universally feared on the bulk wine and grape markets, with buyers only making moves when certain of their requirements. As uncertainty pervades the industry, suffusing every consideration and action, this means slow bulk wine and grape markets moving forward only incrementally. This month’s report details the activity that has occurred and at what pricing, while updates from SipSource and Saxco set out the latest on US wholesaler depletion numbers and packaging trends respectively.
In recent months, Ciatti’s Global Market Report has been relaying how demand for current-vintage wines on the southern French bulk market was boosted by recent smaller harvests – owing to a state-subsidized uprooting program and, primarily, Mother Nature – and a distillation program removing older wines from the market. The free market has had a similar result in California as state intervention has in France: A smaller industry producing less. (On April 30th the CDFA’s California Grape Crush Final Report confirmed the state’s 2025 winegrape harvest at 2.626 million tons.) This month the California Report continues its series drilling down into the state’s bulk inventory by vintage year, this time surveying each of the main varietals.
Read the full Ciatti California Report for April
Bulk wine suppliers are invited to list their 2025 wines with us and send in samples, and ensure they have their 2024 wines on our inventory list, so we are able to harness buyer interest as it arises.
Grape growers are recommended to inform us of the grapes they may have available next year, in 2026, so we can work to match-up suppliers with buyers.
Please contact Mark (+1 415 630 2548 / mark@ciatti.com), Michael (+1 415 630 2541 / michael@ciatti.com) or the Ciatti Customer Account Team (cargroup@ciatti.com).
Listen now: Ciatti's Glenn Proctor speaks to Liquid Assets
Glenn Proctor, partner at the Ciatti Company, was a guest on Rabobank’s latest Liquid Assets podcast – titled “Will the US wine industry ever recover from the current glut?” – discussing the current and future state of the Californian wine industry with Jeff Bitter of Allied Grape Growers and podcast hosts Stephen Rannekleiv and Bourcard Nesin.
Glenn set out bulk-wine inventory levels as of the month of March 2026 and the 12 months to March (“it has been extremely high as to where we would usually sit”), delved down into bulk inventory by vintage year (“inventory isn’t going down but some of it is getting older, making it less marketable as you go into the future”), and outlined the tough realities of the current marketplace: “One of the biggest challenges we have: Those who’d be a buyer in a normal market are currently a seller, they’ve got grapes or bulk wine to sell.”
With Jeff, Glenn discussed the recently-published Preliminary Grape Crush Report and what it says about different regions and the progress of acreage rightsizing, whether or not resting/mothballing vineyards makes economic sense, if buyers are pulling back on contracted commitments at the expense of future stability, and when will the bulk-wine and grape markets noticeably improve: 2027?
You can listen to all 65 minutes of the Liquid Assets episode absolutely free, with no sign-up required, by clicking here .