Argentina’s Wine Exports Surge 17.9% as Bulk White Shipments Drive Record Volumes

Argentina’s wine and grape juice export sector began 2026 with a notable increase in volume but faced challenges in maintaining profitability, according to provisional data released by the country’s National Institute of Viticulture (INV). The report, which covers January 2026, highlights a 17.9% year-on-year rise in total wine exports, reaching 141,681 hectoliters. However, the value of these exports grew by only 5.5%, totaling $40.77 million, signaling a shift toward lower-priced products and raising concerns about long-term margins.

The main driver behind this surge was the sharp expansion of bulk white wine shipments. Bulk wine exports grew by 59.1%, with white bulk wine increasing an extraordinary 688% compared to January 2025, from 2,920 hl to 23,010 hl. In contrast, bulk red wine exports fell by 6%. The “Sin Mención Varietal” (SMV) category—white wines without varietal designation—was central to this trend, jumping from 1,440 hl to 19,910 hl in just one year and accounting for over 40% of all bulk exports for the month.

This strategy allowed wineries to clear excess inventory but came at a cost. The average export price for SMV white bulk wine was just $32 per hectoliter, while bottled varietal white wines fetched an average of $507 per hectoliter—a difference of more than fifteen times. This price gap underscores the pressure on profit margins as Argentina’s industry relies more heavily on high-volume, low-value shipments to maintain cash flow.

Bottled wine remained the backbone of Argentina’s premium image abroad and continued to dominate the fractionated segment. Bottled exports grew by 5.7% and represented 95% of all fractionated wine shipments (92,152 hl in total). Tetra Brik packaging fell by 25.2%, and Bag in Box formats collapsed by over 90%, indicating that international buyers are favoring traditional bottles or importing bulk for local bottling.

Varietal wines—especially Malbec—continued to be Argentina’s flagship export. Malbec accounted for 68.1% of all varietal wine volume and 64.5% of value, with Cabernet Sauvignon and Chardonnay following at a distance. The United Kingdom remained the top destination for Argentine wines by volume (32,353 hl), with nearly all imports being varietal wines. The United States (20,153 hl), Brazil (16,999 hl), and Canada (13,384 hl) were also key markets.

Bulk shipments were concentrated in Germany and Spain, where over 80% and 90% of Argentine wine imports respectively arrived in bulk form. These countries often serve as logistical hubs or re-export centers for European brands seeking competitively priced generic white wines.

Sparkling wines also saw strong growth in January, with volumes nearly doubling (+99.7%) and value rising by over 100%. France was the leading importer of Argentine sparkling wines, followed by Brazil and the United States.

Grape juice concentrate (“mosto concentrado”) emerged as a bright spot for Argentina’s beverage sector. Exports rose by 37.5% in volume (6,094 tons) and by 24.5% in value ($8.69 million), representing almost one-fifth of total viticultural export value for January. The United States was the largest buyer (28%), followed by South Africa (19%) and Japan (15%). Mendoza province supplied most of both wine (92%) and grape juice concentrate (69%), with San Juan contributing significantly to juice exports.

Despite the overall increase in export volume, the industry faces structural challenges due to its reliance on low-value bulk shipments to manage inventory surpluses. The INV report suggests that future strategies should focus on protecting margins in high-value markets like the UK, optimizing logistics for large-scale SMV shipments to improve efficiency, and expanding grape juice concentrate exports as a way to diversify revenue streams.

The data from January shows that while Argentina’s wine sector is successfully moving product abroad at higher volumes, it must address profitability concerns if it hopes to sustain growth and maintain its reputation as a producer of quality wines on the global stage.