Chinese Wine Price Soars 7% to $4.6 per Litre

China Wine Import Price in August 2022

In August 2022, the wine price stood at $4.6 per litre (CIF, China), rising by 7.3% against the previous month. Over the period from January 2022 to August 2022, it increased at an average monthly rate of +1.5%. The growth pace was the most rapid in July 2022 when the average import price increased by 13% m-o-m. The import price peaked in August 2022.

There were significant differences in the average prices amongst the major supplying countries. In August 2022, the country with the highest price was France ($7 per litre), while the price for Spain ($2.8 per litre) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Argentina (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

China Wine Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was sparkling wine ($13 per litre), while the price for wine of fresh grapes (except sparkling wine) totaled $4.4 per litre.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by wine of fresh grapes (+1.6%), while the prices for the other product experienced mixed trend patterns.

China Wine Imports

For the third month in a row, China recorded decline in purchases abroad of wine and grape must, which decreased by -14.4% to 26M litres in August 2022. Over the period under review, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in May 2022 when imports increased by 46% against the previous month. As a result, imports attained the peak of 38M litres. From June 2022 to August 2022, the growth of imports failed to regain momentum.

In value terms, wine imports declined to $122M (IndexBox estimates) in August 2022. In general, imports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in May 2022 with an increase of 37% m-o-m. Imports peaked at 154M litres in January 2022; however, from February 2022 to August 2022, imports remained at a lower figure.

China Wine Imports by Type

In August 2022, wine of fresh grapes (except sparkling wine) (26M litres) was the main type of wine supplied to China, with a 98% share of total imports. It was followed by sparkling wine (616K litres), with a 2.3% share of total imports.

From January 2022 to August 2022, the average monthly growth rate of the volume of import of wine of fresh grapes (except sparkling wine) amounted to -4.8%.

In value terms, wine of fresh grapes (except sparkling wine) ($114M) constituted the largest type of wine supplied to China, comprising 94% of total imports. The second position in the ranking was held by sparkling wine ($7.9M), with a 6.5% share of total imports.

China Wine Imports by Country

France (9M litres), Chile (7.7M litres) and Spain (4.2M litres) were the main suppliers of wine imports to China, with a combined 79% share of total imports. These countries were followed by Italy, Germany and Argentina, which together accounted for a further 10%.

From January 2022 to August 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +2.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, France ($63M) constituted the largest supplier of wine to China, comprising 52% of total imports. The second position in the ranking was taken by Chile ($22M), with an 18% share of total imports. It was followed by Spain, with a 9.5% share.

From January 2022 to August 2022, the average monthly growth rate of value from France totaled -1.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Chile (-7.2% per month) and Spain (+0.9% per month).

Source: IndexBox Market Intelligence Platform