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

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