global market report - the ciatti · pdf file2 4 ciatti contacts import/export ceo –...
TRANSCRIPT
October 2017Volume 8, Issue No. 10
Ciatti Global Wine & Grape Brokers1101 Fifth Avenue #170
San Rafael, CA 94901
Phone (415) 458-5150
Global Market Report
Photo: Ciatti.com
Photo: Ciatti.comPhoto: Ciatti.com
2Ciatti Global Market Report | October 2017
We continue to experience horrific wildfires in many parts of California. The
North Coast grape growing regions have seen tremendous destruction over the
past several days. While it seems that many of the wineries of the region have
escaped total destruction, the impact on individuals’ lives and property has been
immense. We have heard stories of friends and colleagues that have lost homes
and more. Our thoughts and support are with them, and we continue to hope
that these fires will be controlled in the very near future. More will be known in
the coming days, with regards to vineyard and property damage, but for now we
all focus on supporting those in need, and stopping the destruction.
*
Harvests in Europe are concluding and volumes in the Languedoc, La Mancha
and Italy appear to be between 20-30% down on the average. This has placed an
upward pressure on wine prices in these countries and also in Chile and South
Africa, where there was already an acute scarcity of supply. In South Africa, most
wines are not currently available, while Chile’s varietal bulk is almost sold out. The
shortage of alternative sources of supply has created a kind of ‘cycle of acceptance’
among bulk wine buyers: having failed to receive an offer price they like from
their usual source – say, Spain – they seek offers in their back-up source – say,
Chile – only to discover prices there also far exceed what they would prefer to pay,
while South Africa simply cannot provide the volumes. The buyer, accepting the
situation, returns to their original port of call only to discover the offer price has
risen another EUR0.10/litre in the meantime.
The smaller harvests in France and Spain will polarise the nature of their offers: in
France, production of Vin de France, Vin De Pays and IGP wines will be prioritised,
significantly reducing the available quantities of French generics; in Spain, varietal
wines will be sold out by January, leaving the Spanish market to focus even more
on generics. The prices in both markets will be higher than they were at the
equivalent stages of the previous buying campaign, sometimes significantly so.
They will remain relatively attractive, however, because prices are rising globally
and will continue to do so at least until the Southern Hemisphere’s 2018 harvests
come in.
Spring is underway in Argentina, Chile and Australia without any severe frost
episodes so far. Australia and South Africa have experienced dry winters. The
Western Cape is receiving some rain but only enough to maintain water reserves
at their current, greatly reduced level: Cape Town’s catchment dams are at
37.6% of capacity as of 2 October, compared to 62.5% at the same stage of 2016.
International buyers will be keeping their fingers crossed that the Southern
Hemisphere experiences a boring growing season conditions-wise so that good-
sized harvests ensue, and also that California’s current, ongoing harvest is sized
reasonably enough that US buyers – with their strong dollars – do not need to dip
into the already pressurised international market.
3 California
4 Argentina
6 Chile
7 France
9 Spain
11 Italy
12 South Africa
14 Australia
15 New Zealand
16 John Fearless
18 USD Pricing
20 Contacts
Volume 8, Issue No. 10
October 2017
No part of this publication may be reproduced or transmitted in any form by any means without the written permission of Ciatti Company.
Robert Selby
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3Ciatti Global Market Report | October 2017
Mid-September brought 7-10 days of cooler
temperatures to California, which state-wide has
helped slow and stretch-out the grape harvest,
allowing the physiological maturity of the grapes to
rise up to match brix/sugar maturity. The summer’s
prolonged and intense heat had started to condense
the harvest window, potentially placing a strain on
logistics and labor: the subsequent cooler weather in
September has allowed growers to be more selective
about when to pick.
At the moment the harvest looks like being reasonably
sized, at around 3.9-4.0 million tons. In general,
the whites were most hurt by the heat, especially
Chardonnay. The reds have fared better, and it could
be a good year volume-wise for Cabernet, with the
exception of the North Coast which could be severely
impacted by the ongoing fires.
In the Central Valley, which contributes 75% of
California’s crush, on an existing vineyard basis the
harvest looks like being slightly lighter than the average.
There are fewer new vines coming on-line but some in
the Lodi area might help partially offset the shortfall.
Things in the lower Central Valley seem to have sized-
up a little. Ciatti has heard of Zinfandel in particular
being adversely affected by the heat, suffering from
botrytis and sour rot, but minimal volume is affected.
The Central Coast, like the Central Valley, experienced
September’s cooling temperature trend and parts of
the southern Central Coast, such as Paso Robles and
Santa Barbara, received drizzly rain. The Central Coast
harvest is proceeding on a normal schedule and, it
seems, coming in at estimate on Chardonnay and Pinot
Noir. In Monterey, Pinot Noir has been coming in 15%
above estimate, and Chardonnay at estimate. Overall,
the Central Coast is looking at an average-sized harvest
or slightly better.
In the North Coast, the harvest schedule had been
running normally, with the Chardonnay harvest
completed and the reds starting to coming in. We will
have to see what transpires, but for now all are focused
on fighting through the ongoing crisis.
There is likely to be market activity on Chardonnay,
as it’s been a tough growing season for that varietal.
Sauvignon Blanc will be in demand simply because
Californian supply is limited. The Cabernet harvest
should come in very well, potentially stabilizing
Cabernet prices (Ciatti is seeing some Cabernet available
late in the season on the Central Coast). There will also
be an ample supply of Malbec for those US buyers
struggling to source the varietal out of South America.
In short, California can provide the buyer with pretty
much any varietal.
CaliforniaTime on target
HARVEST WATCH: Cooler September helped
slow harvest, boost physiological maturity
See next page for more on California.
4Ciatti Global Market Report | October 2017
Ciatti ContactsImport/ExportCEO – Greg Livengood
Steve Dorfman
T. +415 458-5150
DomesticT. +415 458-5150
John Ciatti – [email protected]
Glenn Proctor – [email protected]
John White – [email protected]
Chris Welch – [email protected]
California: Current Market Pricing (USD per liter)
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.79 – 0.99 ↔ 2015 Generic Red 0.85 – 1.05 ↔
2016 Chardonnay 1.52 – 1.85 ↑ 2014/15 Cabernet Sauvignon 1.59 – 2.11 ↔
2016 Pinot Grigio 1.39 – 1.72 ↔ 2015 Merlot 1.32 – 1.58 ↔
2016 Muscat 1.19 – 1.32 ↔ 2015 Pinot Noir 1.85 – 2.25 ↑
2016 White Zinfandel 0.85 – 0.99 ↔ 2015 Syrah 1.32 – 1.58 ↔
2016 Colombard 0.86 – 1.12 ↔ 2014/15 Zinfandel 1.72– 2.11 ↔
The harvest looks like being around 3.9-4.0
million tons. The whites were most hurt by the
heat, especially Chardonnay: the market on that
varietal could become tight. Cabernet pricing
could be stabilized by a good year for the varietal,
volume-wise, with the exception of the North
Coast, California can provide the buyer with
pretty much any varietal, including a good supply
of Malbec.
Key Takeaways
All the signs are that Argentina’s economy is on the
mend and the governing party led by President
Mauricio Macri will come out on top in the midterm
congressional elections, held 22 October. There is
genuine hope, perhaps for the first time in 15 years,
that Argentina is on the road to a sound economy and
reintegration into the international community. The
exchange rate is currently at 17.5 pesos to the dollar;
there is hope that, following the elections, the Macro
government will devalue the peso, perhaps to 19.
ArgentinaTime on target
HARVEST WATCH: Spring is proceeding
without incident
A devaluation would boost the attractiveness of
Argentina’s Malbec price, which remains paused at last
month’s quoted USD1.80/litre level (with USD1.70/
litre possible) while suppliers see how the frost season
– now underway – pans out. Springtime in Mendoza is
currently proceeding normally, with some cooler days
but also warming ‘Sonda’ winds blowing in from the
Andes.
Despite the paused Malbec price, market activity in
Argentina has picked-up a little, with some purchases
being made here and there. Price increases around
the world, as well as reports of big shortfalls in the
European harvests and an average-sized California
crop, have helped make USD1.80/litre for Malbec
seem less unattractive to buyers than previously. Will
See next page for more on Argentina.
5Ciatti Global Market Report | October 2017
Key TakeawaysBulk Malbec remains at USD1.80/litre with USD1.70/
possible. This will hold during the frost season, after
which a reassessment will be made. A softening
of the Malbec price could be assisted by a peso
devaluation, should one occur after the country’s
midterm elections on 22 October.
Ciatti ContactEduardo Conill
T. +54 261 420 3434
USD1.50/litre be possible by the end of 2017? It will
mainly depend on the frost season and if there is a peso
devaluation.
Argentina’s total wine trade – including bulk and
bottled, and for domestic or export – was 5% smaller
in the January-August 2017 period than it was in the
equivalent period of 2016. Domestic wine consumption
has been significantly dampened by inflation and the
high price of wines following successive disappointing
harvests. A 750ml bottle of Malbec is priced in the
region of 100 pesos; for the same outlay, consumer can
buy many more beers. Consumption of high-end wine
– bought once a week and/or for special occasions – is
still growing, but the budget and midmarket has lost
market share to beer. The beer market is more dynamic
anyway due to the presence in Argentina, as in many
countries now, of a trend for craft beer.
Export of wine grape juice concentrate out of Argentina
in the January-August 2017 period was down 47.6% on
the equivalent period of 2016. There were less volumes
of grapes being channelled into the GJC category, and
little demand anyway – but now, with the shortfall in
European harvests, Argentina is fielding requests for
GJC and wine alcohol.
According to Bloomberg, Argentina’s gross domestic
product is on the rise, poverty is ticking downward, and
inflation is declining: it should be at around 15% in 2018
and on course to be in single digits in 2019.
Argentina: Current Market Pricing (USD per liter; FCA Winery)
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.55 – 0.65 ↔ 2016 Generic Red 0.90 – 1.10 ↔
2016 Chardonnay 1.20 – 1.40 ↔ 2016 Cabernet Sauvignon 1.80 – 2.00 ↔
2016 Muscat 0.70 – 0.80 ↔ 2016 Syrah / Merlot 1.50 – 1.60 ↔
2016 Torrontes 0.60 – 0.80 ↔ 2016 Malbec Entry-Level 1.80 – 2.00 ↔
2016 Bonarda 1.50 – 1.60 ↔ 2016 Malbec Premium 2.50 – 3.50 ↔
6Ciatti Global Market Report | October 2017
ChileTime on target
HARVEST WATCH: No frost pressure in
spring as yet
Early spring in Chile’s growing areas has so far
been intermittently rainy and sunny, with no frost
pressure. Meteorologists are not forecasting any
severe frosts. It is early days but the consensus seems
to be that if conditions continue as they have been, a
normal-sized crop will result. This has not, however,
softened prices on Chile’s 2017 wines, which continue
to rise week-on-week, nor the price of – and demand
for – 2018 grapes.
Chilean wineries are taking the risk and buying high-
priced grapes because the current global supply-
demand situation – together with the 2017 harvest
forecasts coming out of Europe and California – would
indicate that the big demand pressure on Chile’s wines
will continue. Prices at the start of Chile’s 2018 wine
buying campaign will definitely be higher than they
were at the start of its 2017 campaign.
The market has been active but not feverish, and
international demand has slowed a little in recent
weeks: buyers are taking a little longer to make
decisions; before acting, some buyers are waiting
to see how the growing season goes for Chile’s 2018
vintage, and its eventual yield. Many international
buyers hesitated to commit in Chile earlier in the
year, and held off, only to see prices escalate through
the course of 2017 instead of decline. Where the
Chilean market’s remained feverish in recent weeks
is domestically, in particular the case goods market,
where players are buying at a loss to maintain brands.
Prices on 2017 wines continue to rise and their
availability becomes increasingly scarce. Varietal bulk
Chardonnay, Carmenere, Pinot Noir and Malbec are
sold out or close to being so. There has been feverish
activity on Chardonnay especially, particularly from
domestic buyers seeking to cover their needs. Ciatti
is working hard to bring volume to the table. Buyers,
paying heed of the warning that prices will only rise,
are ensuring they respect loading terms.
See next page for pricing.
Key TakeawaysThe remaining 2017 wines are high in price,
appreciating week-on-week, and close to being
sold out. The 2018 grapes are in very strong
demand and wine prices at the start of the 2018
wine buying campaign will be higher than they
were at the start of 2017’s.
Ciatti ContactMarco Adam
T. +56 2 2363 9206 – or – T. +56 2 2363 9207
Chilean Export Figures
Wine Export Figures
January - August 2016 January - August 2017 Volume
Million Liters
Million US$ FOB
Average Price
Million Liters
Million US$ FOB
Average Price Variance %
Bottled 316,14 979,12 3,10 332,39 1.028,52 3,09 5,14
Bulk 258,90 167,55 0,65 253,17 206,40 0,82 -2,22
Sparkling Wines 2,75 10,96 3,99 2,78 11,53 4,14 1,29
Packed Wines 21,20 35,98 1,70 17,58 30,33 1,73 -17,07
Total 598,98 1.193,61 2,36 605,92 1.276,78 2,45 1,16
7Ciatti Global Market Report | October 2017
FranceTime on target
HARVEST WATCH: More unfavourable
conditions restrict volumes further
The 2017 harvest in France has finished: AGRESTE
on 1 October once more revised down the estimated
volume figure, from 37.2 million to 36.9 million
hectolitres – 19% lower than 2016’s crush and 18%
lower than the five-year average – as September
brought 2-3 weeks of very dry, windy conditions in
the growing areas adjacent to the Mediterranean and
three weeks of non-stop rainfall in Bordeaux.
A crush of 36.9 million hectolitres would be France’s
lowest in recorded history, coming in smaller than the
previous record low seen in 1991. The end of August and
the start of September were very busy with purchasing
of what remained of the 2016 carryover stock. Prices on
2018 wines are to be agreed by the co-ops any day now.
The three extra weeks of dry weather and wind in the
Languedoc, Provence and the Côtes du Rhône are
expected to have further decreased the juice yields in
those areas. Languedoc’s overall harvest volume is now
expected to come in at 20-30% below average, with
the most affected being the late-ripening red grapes
such as Cabernet and Carignan: whites could be down
15-20% and reds down 30%. Upcountry, in Bordeaux,
September was very wet, harvesting took place in the
rain, and there were ripening and fungus disease issues.
This has compounded the impact – felt across most if
not all France’s growing areas – of a very tough growing
season with spring frosts, hailstorms, drought and
intense heat. Bordeaux’s harvest could be as much as
40% smaller than last year’s.
The Loire Valley and Burgundy have fared better: if
there’s a fall from the average in these areas, it will be
relatively minor; in general, growers there are happy
with their results. In South West and the white wine-
producing powerhouses like Charente and Gers, the
crop will be slightly down but volumes will remain
significant, so that France will be able to offer – from
this area – quality white wine at better pricing than in
Spain.
In terms of quality, white wines out of France will be
of good quality, but the harvest was more challenging
for red and rosé production: the hot weather brought
a good concentration of sugar to the red grapes, but
phenolic ripeness was potentially lacking in some
See next page for more on France.
Chile: Current Market Pricing (Pricing in bulk; FOB Chilean Port)
Vintage Variety Price Trend Vintage Variety Price Trend
NV Generic White 0.66 – 0.75 ↔ NV Generic Red 0.72 – 0.85 ↑
2017 Chardonnay (Basic) 1.10 – 1.20 ↔ 2017 Cabernet Sauvignon (Basic) 1.05 – 1.15 ↔
2017 Sauvignon Blanc 1.15 – 1.25 ↑ 2017 Cabernet Sauvignon (Varietal Plus) 1.25 – 1.40 ↔
2017 Syrah 1.05 – 1.15 ↔ 2017 Merlot (Basic) 1.10 – 1.15 ↔
2017 Carmenere 1.30 – 1.40 ↑ 2017 Merlot (Varietal Plus) 1.25 – 1.40 ↔
2017 Pinot Noir 1.30 – 1.40 ↑ 2017 Malbec (Basic) 1.45 – 1.55 ↔
2017 Malbec (Varietal Plus) 1.60 – 2.00 ↔
8Ciatti Global Market Report | October 2017
Key TakeawaysThe 2017 harvest looks like being the smallest in history. It will be difficult to
source generics from France in big volumes, apart perhaps from generic white
from Gers/South West. On the flip-side, France will be the most attractive
producer country in Europe from which to source good quality varietal wines
in good volumes at decent pricing, so buyers of these should move quickly.
Ciatti Contact
Florian Ceschi
T. +33 4 67 913532
areas. More red grapes will be channelled into red wine
production to ensure red wine standards are upheld,
restricting rosé output. Buyers seeking value for money
on reds and rosés should move quickly.
Because of the crop shortfall, French producers will
focus on maximising output of Vin de France, Vin De
Pays and IGP red and white varietal wines, putting a
further squeeze on the availability of generics. It will
be difficult to source red, white and rosé generics from
France in big volumes, apart perhaps from generic
white from Gers/South West. It means France will be
the most attractive producer country in Europe from
which to source good quality varietal wines and dry
table wines in good volumes at decent pricing, but also
that any initiative on generics will be handed to Spain
(whose own varietal wines will be sold out by January).
On the current market, there is some unsold
inventory of 2016 Chardonnay and Sauvignon Blanc
intermittently available on the spot market (these have
been the slowest-moving wines across the year), ditto
some remaining 2016 Merlot. Prices on these three
2016 varietals remain more attractive than the price
expected on their 2017 equivalents. The new vintage
pricing has yet to be settled but it can be assumed it will
higher than 2016’s; the extent of the rise is uncertain
and contact Ciatti for the latest indication. In order to
fulfil their brands, the big buyers in France will enter
into a battle to secure the largest volumes that they can
capture, so prices on specific wine categories could rise
quickly from the start of the buying campaign.
With inventory of varietal bulk wine in Chile, South
Africa and – moving forward – Spain and Italy highly
limited, France will become a very popular destination
for varietal buyers in Europe, at least until 2018 Chilean
material is available from May/June next year. So
buyers prospecting France need to move quickly.
For the first time in many years, during the latest
reunion hold by the French Cooperative Cellars
Federation (held on the 10/12/17) , the idea of
contractualizing on a pluri-annual basis with a
guarantee on price, volume and quality has been
put back on the discussion table. The Coops - and
also the Independant growers syndicates - are now
encourageing their partners and clients to opt for this
multi-benefit contracts in an attempt to guarantee
stable pricing over longer period for brand building
purpose and ensure at the same time that the growers
are getting fair revenues.
France: Current Market Pricing (EUR per liter; Ex-Winery)
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.55 – 0.60 ↑ 2016 Varietal Rosé IGP 0.85 – 0.90 ↔
2016 Chardonnay IGP 0.90 – 1.00 ↔ 2016 Generic Red 0.60 – 0.65 ↑
2016 Chardonnay VDF 0.85 – 0.95 ↔ 2016 Cabernet Sauvignon IGP 0.90 – 1.00 ↑
2016 Sauvignon Blanc IGP 0.85 – 1.00 ↔ 2016 Cabernet Sauvignon VDF 0.85 – 0.95 ↑
2016 Sauvignon Blanc VDF 0.80 – 0.95 ↔ 2016 Merlot IGP 0.85 – 0.95 ↑
2016 Generic Rosé IGP 0.80 – 0.85 ↔ 2016 Merlot VDF 0.80 – 0.85 ↑
2016 Generic Rosé VDF 0.70 – 0.80 ↔ 2016 Syrah / Grenache 0.85 – 0.95 ↑
9Ciatti Global Market Report | October 2017
SpainTime on target
HARVEST WATCH: La Mancha’s harvest
significantly reduced; extent unconfirmed
If reports are to be believed, La Mancha’s 2017 harvest
could come in at roughly 18-20 million hectolitres,
down 25-30% from 24-25 million hectolitres in 2016.
This is due to the intensely hot and dry growing
conditions. The international varietals – the least
adapted to the La Mancha terroir – suffered most
from the drought with production losses between
30% (on Merlot and Cabernet Sauvignon) and 50% (on
Chardonnay and Sauvignon Blanc, in extreme cases).
As it had to endure these conditions longest, late-
ripening Airén will suffer a big shortfall.
Ciatti is assisting with more contracts based on sam-
ple-approval out of Spain than perhaps ever before, and
each offer is only on the table for a couple of days max.
Pricing on any wine – varietal or generic – is approxi-
mately EUR0.20/litre dearer than it was at the same date
of 2016 and, with little prospect of prices falling, Ciatti
encourages all buyers to secure their needs as soon as
possible.
The buying campaign for Spain’s 2017 wines started in
mid-September – with the white sulfured juices sold to
Italians clients – and has snowballed since then. Some
wineries are already almost sold out on categories such
as traditional fermentation white wines (the cheapest
categories) or international varietal wines. Inventory in
big volumes of these latest wines (varietal reds, whites and
See next page for more on Spain.
France: Estimated Market Pricing (EUR per liter; Ex-Winery)
Vintage Variety Price Trend Vintage Variety Price Trend
2017 Generic White 0.60 – 0.65 ↑ 2017 Varietal Rosé IGP 0.90 – 0.95 ↑
2017 Chardonnay IGP 1.00 – 1.15 ↑ 2017 Generic Red UNKNOWN ↑
2017 Chardonnay VDF 0.95 – 1.05 ↑ 2017 Cabernet Sauvignon IGP 0.90 – 1.00 ↑
2017 Sauvignon Blanc IGP 0.95 – 1.05 ↑ 2017 Cabernet Sauvignon VDF UNKNOWN ↑
2017 Sauvignon Blanc VDF 0.90 – 1.00 ↑ 2017 Merlot IGP 0.85 – 0.95 ↑
2017 Generic Rosé IGP 0.85 – 0.90 ↑ 2017 Merlot VDF UNKNOWN ↑
2017 Generic Rosé VDF 0.80 – 0.85 ↑ 2017 Syrah / Grenache 0.85 – 0.95 ↑
10Ciatti Global Market Report | October 2017
Key TakeawaysCiatti encourages all buyers of Spanish material
to secure their needs as soon as possible. Volume
of 2017 wine will be significantly lower than that
of 2016. Prices are up EUR0.20/litre on last year,
but still the world’s most competitive. Inventory
of 2017 varietal reds, whites and rosés will be sold
out by Christmas. All rosé categories will be very
hot. Inventory of 2016 reds and whites is priced
the same as on the new vintage. Spain’s GJC
output will be significantly diminished.
Ciatti ContactNicolas Pacouil
T. +33 4 67 913531
rosés) are expected to be sold out by December. Generic
rosé will also be running low; rosé is a hot category this
buying campaign as volumes will be greatly reduced –
not only due to the tough harvest but more grapes being
channelled into red wine production.
There is no remaining 2016 carryover stock of white and
rosé left, while carryover reds are priced the same as the
new 2017 wines. Once the 2017 varietals are sold out by
January, the focus of the market in Spain will be on the
generic table reds and whites. The traditionally-fermented
generic whites or second class press wines, often used in
the food and distilling industries or for aromatized wine
beverages, are in strong demand.
Predictably, with the harvest shortfall, wine production is
being maximised at the expense of grape juice concen-
trate production. Some wineries traditionally producing
significant volumes of high-proof, high colour red GJC
have said that, given the situation, they will be producing
much less – or in some cases zero – GJC this year. There
is going to be less GJC, alcohol and vinegar coming out
of Spain for the foreseeable. The juice supply from the
key GJC-producing area of La Manchuela – significant-
ly depleted this year due to severe frost, hailstorms and
drought – has been concertedly bought-up by Italian
buyers to vinify with back in Italy.
Although its prices are significantly higher this year than
last, Spain remains the cheapest supply country in the
world for generic wines – and buyers know it: the market
is thus very active and Ciatti urges all potential custom-
ers of Spanish material to secure their needs now. As the
worldwide production is much smaller this year with
increased demand and small carryover stock, the Span-
ish market price evolution in the future is unlikely to go
down throughout the year as it did during the 2012-2013
campaign.
Although it’s very early to say, this summer’s drought
has potentially greatly harmed the health of the vines.
The 2018 harvest is thus not expected to be big, and
average-sized in the best case scenario if much-needed
autumn/winter rains come.
Spain: Current Market Pricing (EUR per liter; Ex-Winery)
Vintage Variety Price Trend Vintage Variety Price Trend
2017 Generic White 0.50 - 0.55 ↑ 2017 Moscatel 0.70 - 0.75 ↔
2017 White Blends (Higher Quality) 0.60 - 0.65 ↑ 2017 Generic Red 0.57 - 0.65 ↑
2017 Sauvignon Blanc 0.80 - 1.00 ↑ 2017 Generic Red (Higher Quality) 0.65 - 0.80 ↑
2017 Chardonnay 0.85 - 1.00 ↑ 2017 Cabernet Sauvignon 0.75 - 0.85 ↑
2017 Generic Rosé 0.56 - 0.60 ↑ 2017 Merlot 0.80 - 0.90 ↑
2017 Varietal Rosé 0.70 - 0.80 ↑ 2017 Syrah 0.75 - 0.85 ↑
11Ciatti Global Market Report | October 2017
ItalyTime on target
HARVEST WATCH: As much as 25-30%
down on an average year
It is unlikely Italy’s 2017 crush will surpass the 40
million hectolitre mark. This significantly reduced
harvest – 25-30% down on the average – has placed
intense pressure on prices in Italy, especially on
generic reds and whites, which have in some cases
passed EUR5.0/hectodegree. The main bottling
companies are struggling to absorb the rising prices,
and in turn seeking to increase their prices to the main
retail chains – not an easy task – in order to achieve
some margin.
Bulk wine suppliers do not want to make offers valid
for more than a few days, and for the bottlers it is
becoming a risk to participate in tenders without
having first secured the material. There is a chance
supermarkets will receive very few offers for their big
international tenders. This very difficult situation will
continue at least until the end of December, when the
industry will start to discover if the current price level is
sustainable.
Entry-level generic red has been at EUR5.0/
hectodegree, meaning that wine at 12% alcohol worth
EUR60/hectolitre has been very difficult to find.
There are very few low degree wines. Like for the reds,
generic white prices start from EUR5/hectodegree.
Cold fermentation wines from Puglia are at EUR5.50/
hectodegree: there is availability for now but some
big producers are already sold out. Puglia, the region
with the cheapest prices on red and white generics, is
selling to the north of Italy and Germany and France.
Abruzzo’s generic white will start from EUR6.0/
hectodegree, and the further north the higher the price.
The harvest has finished in the Pinot Grigio delle
Venezie DOC and contracts closed until now have been
at EUR1.30-1.50/litre. All Pinot Grigio IGT is sold out.
The situation in the Prosecco DOC remains unclear,
with some suppliers asking for three-year contracts at
EUR2.10/litre and those customers unable to commit
to three years having to pay EUR2.50/litre. The DOCG
Valdobbiadene is traded at more than EUR3.00/litre.
Chardonnay is one of the most requested varietals both
from the domestic and international markets: prices
are rising towards EUR0.90-1.00/litre, and only small
quantities are available. Montepulciano d’Abruzzo DOC
from the 2016 vintage is almost sold out and prices for
the 2017 vintage are not yet defined but almost certain
to be higher. Prices for the Nero d’Avola DOC Sicilia
are higher than they were on the 2016 IGT, trading at
around EUR110/hectolitre and running short. Primitivo
IGT from Puglia/Salento is priced at EUR115-150/
hectolitre.
Given the short production of varietal Merlot in the
north (where the IGT is at EUR1.00/litre), all the main
companies are switching to varietal Merlot from across
the country, causing a strong increase in demand: prices
start at EUR80/hectolitre. Varietal Cabernet is in very
short supply and prices are starting from EUR0.80/
hectolitre for entry-level material. Varietal Moscato is
almost sold out, with prices passing EUR1.0/kg for the
must.
A significantly reduced harvest has pushed prices
up across Italy, with entry-level generics starting at
EUR5.0/hectograde. There is a short supply on most
wines and the picture is complex Give Ciatti a call.
Key Takeaways
Ciatti ContactFlorian Ceschi
T. +33 4 67 913532
See next page for pricing.
12Ciatti Global Market Report | October 2017
South AfricaTime on target
HARVEST WATCH: 2018 harvest could be
below average-sized due to drought
It is becoming extremely difficult to source wine out
of South Africa in the volumes demanded. The size
– in terms of litres – of many requests South Africa
is receiving would be incredibly difficult to fulfil at
this time in a normal year, let alone in a year in which
the global supply-demand situation has tightened
considerably and caused immense demand pressure
on South African inventory. Prices in South Africa
are rising week-on-week on all wines, and subject to
availability. Due to the current short situation – most
wines are not available at the moment – prices can rise
without notice as and when parcels of wine become
available. The below pricing table should thus be taken
as indicative only.
As news has filtered through of what seems like
disappointing 2017 harvests in Europe, demand for
South African wine has risen further – to the extent
that 2017 vintage wine appears to be almost fully
contracted in South Africa. Wineries are insisting that
their wines are firmly contracted and moving, with no
extra stock paused in cellars, and there is no speculation
occurring. There are likely to be pockets of availability
in November, December and January as suppliers –
given the strong demand – put pressure on the loading
schedules: buyers should respect loading terms or risk
losing their contracts.
To reiterate: potential buyers should be aware that
all pricing is subject to availability, and can change
quickly. The below table provides approximate
guidance only.
Ciatti is already receiving requests regarding 2018
wines. Some pre-harvest negotiations are already
underway – a lot earlier than in ‘normal’ years, the
new harvest being still some months off. It is expected
that a better indication of where the 2018 harvest will
be volume-wise should be evident by the middle/end
of November. The general feeling at the moment is
that the harvest will be down on the average due to the
prolonged drought and the resulting low water reserves:
the aggregate water levels in Cape Town’s catchment
dams stood at 37.6% as of 2 October, compared to
62.5% at the same stage of 2016. The Western Cape
See next page for more on South Africa.
Italy: Current Market Pricing (EUR per liter; Ex-Winery)
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.40 – 0.60 ↑ 2016 Generic Red 0.40 – 0.50 ↑
2016 Chardonnay 0.85 – 1.00 ↔ 2016 Cabernet Sauvignon 0.75 – 1.00 ↑
2016 IGT Pinot Grigio 1.05 – 1.20 ↑ 2016 Merlot 0.75 – 1.00 ↑
2016 DOC Prosecco 2.50 – 3.00* ↔ 2016 Primitivo / Zinfandel 1.20 – 1.40 ↔
2016 Chianti 1.60 – 2.00* ↔
*Bottled Price
13Ciatti Global Market Report | October 2017
Looking back at the 2017 harvest, it came in at 1,434,328
tons, equating to approximately 1.112 billion litres. Of
this, an estimated 83% - 916.9 million litres – was sold
as wine, with the rest going towards grape juice, grape
juice concentrate, brandy and distilling. The 2016
harvest came in at 1,405,401 tons, or approximately
1.089 billion litres.
Carryover stock of wine on 1 January 2017 was 492.8
million litres, down from 531.8 million litres on the
same date of 2016. South Africa’s exports of packaged
and bulk wines jointly reached 450 million litres in the
September 2016 to August 2017 period, up 30 million
litres from 420 million litres in the prior 12-month
period. Local sales came in at 400 million litres, up
from 394 million litres.
is receiving intermittent rain, but this is only serving
to maintain the water level, rather than increase it
meaningfully.
Some growing areas will be more severely affected
by lack of water than others: the Olifants River area
could be one of the hardest hit. The cities get priority
with regard to water rationing, with water allocations
for agricultural use – including vineyards – as much
as halved in some areas. However, areas currently
receiving the intermittent rain, like Stellenbosch and
Paarl, will now not need to draw upon water reserves
until January, and things are not looking too bad in the
vineyards.
Key TakeawaysIt is now extremely hard to find any available 2017
wines in South Africa. Any wine that does become
available is contracted very quickly. Prices can rise
quickly; the below table is indicative only. Buyers
are enquiring about 2018 wines but it’s too early
for growers to know how the 2018 harvest will
go and set offer prices. Low water reserves are a
concern in all growing areas, to varying extents.
Ciatti ContactsVic Gentis
T. +27 21 880 2515
Petré Morkel
T. +27 82 33 88 123
South Africa: Current Market Pricing (SA Rand per liter, FOB Cape Town)
Vintage Variety Price Trend Vintage Variety Price Trend
2017 Generic White 5.60 – 6.00 ↑ 2017 Generic Red 6.70 – 7.20 ↑
2017 Chardonnay 7.50 – 8.50 ↑ 2017 Cabernet Sauvignon 8.50 – 10.50 ↑
2017 Sauvignon Blanc 8.50 – 10.50 ↑ 2017 Ruby Cabernet 7.00 – 7.50 ↑
2017 Chenin Blanc 6.00 – 6.20 ↑ 2017 Merlot 8.50 – 9.50 ↑
2017 Muscat 7.00 – 7.50 ↑ 2017 Pinotage 7.50 – 8.50 ↑
2017 Generic Rosé 5.60 – 6.20 ↑ 2017 Shiraz 8.00 – 9.00 ↑
2017 Cultivar Rosé 6.80 – 7.20 ↑ 2017 Cinsaut Rose 6.80 – 7.20 ↑
NB: pricing is directly related to remaining available stock and - due to the current short situation - can change without notice
14Ciatti Global Market Report | October 2017
Reds from Australia’s 2017 vintage remain in high
demand as both domestic and Chinese interest
remains positive. There is low availability on red
wine inventory as enquiries for entry-level Shiraz,
Cabernet, Merlot and generic red continue to flood in.
The majority of white wine varietals remain readily
available.
Premium areas such as the Barossa Valley and McLaren
Vale continue to see good demand whilst mid-range
cool climates areas – such as Langhorne Creek and
Currency Creek – are experiencing more growth.
Looking ahead, the strong demand for Australian reds
is expected to continue in 2018, especially with the 2017
crops in Europe anticipated to be smaller.
Warm spring weather has commenced. There is
still some concern that a frost episode could occur
in October, or as late as November, due to the dry
conditions seen throughout winter. Each capital city
in Australia received rainfall below the long-term
average. Australia recorded its warmest winter on
record for maximum temperatures and – with global
warming – the trend is likely to continue.
Whilst the prospect of rainfall in the coming months
looks positive, the weather bureau predicts Australia
will receive warmer than average daytime and night-
time temperatures in the months leading up to
summer. Off the back of such weather, will Australia be
able to produce a large-sized harvest for the third year
in a row? Can the vines sustain another big harvest or
will output come in closer to an average year? Time
will tell.
AustraliaTime on target
Key TakeawaysThe demand pressure on Australian reds is expected to
continue, especially if Europe’s 2017 harvests come in as
short as forecast. Most white wine varietals remain readily
available. A warm, dry winter and a spring forecasted to
be warmer than average raises questions regarding the
final size of Australia’s 2018 harvest.
Ciatti ContactsMatt Tydeman
T. +61 8 8361 9600
Simone George
T. +61 8 8361 9600
HARVEST WATCH: Warm spring weather is
underway after a warm, dry winter
Australia: Current Market Pricing (AUD/litre unless otherwise stated)
Vintage Variety Price Trend Vintage Variety Price Trend
NV Dry White 0.70 – 0.85 ↑ NV Dry Red 0.90 – 1.00 ↑
2017 Chardonnay 0.85 – 0.95 ↑ 2017 Cabernet Sauvignon 1.15 – 1.40 ↑
2017 Sauvignon Blanc 0.90 – 1.15 ↔ 2017 Merlot 1.10 – 1.35 ↑
2017 NZ Marlborough SB NZD3.50 – 4.30 ↔ 2017 Shiraz 1.15 – 1.40 ↑
2017 Pinot Gris 1.30 – 1.50 ↑ 2017 Muscat 0.75 – 0.90 ↔
Price stated are indicative only; all offers subject to prior sale and subject to volume, drawdown and terms
15Ciatti Global Market Report | October 2017
Key TakeawaysSauvignon Blanc production still dominates the
wine industry in New Zealand, with 285,862 tonnes
produced in 2017, more than eight times the
volume of the next biggest varietal, Pinot Noir.
Wine-Searcher notes an uptick in US consumer
interest in Sauvignon Blanc this year, with New
Zealand is well-placed to take advantage: New
Zealand wines, powered by Sauvignon Blanc, have
become the third-most imported wine into the US
by value.
Ciatti ContactsMatt Tydeman
T. +61 8 8361 9600
Simone George
T. +61 8 8361 9600
New ZealandTime on target
According to New Zealand Winegrowers’ annual
vintage survey, New Zealand’s total producing area
in 2017 was 37,129 hectares. Some 29,210 hectares
of this was given over to whites, of which the great
majority – 22,085 hectares – was Sauvignon Blanc.
The Marlborough region accounted for 67.7% of
total acreage and produced 302,396 tonnes in 2017,
followed by Hawkes Bay with 12.6% of total acreage,
producing 33,679 tonnes. Central Otago (5.1%),
Gisborne (3.7%), Waipara Valley (3.4%), and Nelson
(3.1%) made up the rest of the significant surface area.
Some 76% of the white wine produced in New Zealand
is Sauvignon Blanc: 285,862 tonnes was harvested in
2017, which, it being a smaller harvest in New Zealand
overall, was down from 303,711 tonnes in 2016.
Chardonnay (11% of the total whites; 26,843 tonnes) and
Pinot Gris (8%, 20,755 tonnes) were the other whites
grown in notable quantities. Pinot Noir, at 28,760
tonnes (down from 35,661 tonnes in 2016), made up
HARVEST WATCH: 396,000 tonnes, down
9% on 2016
72% of the reds. Merlot (15% of the reds at 7,714 tonnes)
and Shiraz (5% of the reds) are the other red varietals
produced in notable volumes.
New data from the New Zealand Institute of Economic
Research (NZIER) shows that Marlborough’s wine
sector has grown by 300% since 2000 and now employs
2,350 wine workers and 3,000 casual workers: one in
every ten people in the region. This has a flow-on effect
to other sectors such as packaging and freight, which
employ an additional 2,500 people. Marlborough’s wine
sector now contributes an average of NZD477 million
(USD338 million) to New Zealand’s economy each
year, and brings in further significant revenue through
tourism.
Meanwhile, according to data compiled by internet
search engine Wine-Searcher, although the focus of
most wine searches in the US is still red varietals, with
Cabernet Sauvignon taking 15% (seven million) of all
searches by consumers between July 2016 and July 2017,
by the latter date Sauvignon Blanc had seen the second
largest increase in searches, up 13% from the previous
year, with California and New York particular search
“hotspots”. US sales of Sauvignon Blanc (domestic and
imported) saw a steady increase over the spring and
summer months. New Zealand’s Sauvignon Blanc,
which accounts for 94% of the country’s wine sales to
the US, is meeting a demand among US wine drinkers
– especially millennial women – for lighter, elegant
premium wine styles.
Craft Beer Update
16Ciatti Global Market Report | March 2017
PROVIDER OF CRAFT HOPS AND PROVISIONS
In September John Fearless Co. visited Washington
State’s Yakima Valley – a hop-growing epicentre,
producing something like 85% of all US-grown hops
– to see how the hop harvest was coming in. During
the growing season Yakima Valley experienced similar
conditions to those seen in California’s vineyards, but
the hop crop was unaffected, quality looks good and
yield average, with the total harvest volume record-
breaking off the back of another increase in acreage.
According to the USDA, there was a 6.5% increase in
US hop area (to 54,135 acres) between this year and last,
though word on the ground in Yakima Valley was that
the actual increase was even bigger. Last year, the US
surpassed Germany to become the world’s leading hop
producer.
This big crop arrives at a time when growth in the US craft
beer market has slowed from double to single digits, and
with hop inventory in the US already at record levels: as of
1 September 2017, inventory was estimated at 98 million
lbs, up 15% from 85 million lbs the year before. The hop
market has thus tilted in the buyer’s favour: they can be
confident of securing the material they require on a spot
market basis, with multi-year contracts only necessary on
some of the rarer varietals. As varietals previously hard to
get become more available, brewers are able to commit
to their use on a longer-term basis, while simultaneously
seeing the cost of hops decline as a percentage of their
overall costs.
One of the Yakima Valley hop farms John Fearless visited
was CLS Farms, producer of some of the hop varietals
John Fearless can supply. CLS has spent ten years breeding
a hop – named Medusa – from the neomexicanus hop
plant indigenous to the Rocky Mountains and northern
Mexico, until it has arrived at a plant both hardy enough to
be grown in Washington state and interesting in its aroma
profile. Medusa is thus one of only two hop varietals on the
US hop market that can claim to be a 100% indigenous US
hop varietal, with no breeding from anywhere else, and the
only one to be 100% secure in this claim.
Medusa hops were available to touch and smell on the
John Fearless stand at the California Craft Beer Summit in
Sacramento, September 7-8, probably the best-attended
summit in the three years of Fearless’s presence (there are
now over 900 breweries operating in California). Medusa
hops were present also as an ingredient in a ‘northeast-
style’ cloudy IPA that John Fearless collaborated on with
Sonoma’s 101 North Brewing; in fact, this IPA was produced
from all Malteurop malts, five New Zealand hop varietals,
and two experimental Washington state hops (including
Medusa) – all of which was supplied by John Fearless. This
beer, with its tropical aroma profile of mango, pineapple,
and passionfruit, gained very wide appeal at the show.
The appeal of the hops John Fearless is able to offer also
transcends borders. Outside the US there is an increasing
interest in US hops: John Fearless is seeing interest from
Mexico, South America, South Africa and South Korea.
Mexico in particular is experiencing its own craft beer
movement, with a growing interest in IPAs, hoppy ales
and barrel-aged beers. Going forward, with the 2017 US
hop harvest a good one, John Fearless will be able to
offer customers both – international and domestic – the
innovative hop varietals they seek.
Fearless ContactsCEO - Rob Bolch
T. + 1 800 288 5056
Sales - Geoff Eiter
T. + 1 800 288 5056
Key TakeawaysJohn Fearless can provide: base and specialty malt;
aroma and bittering hops; fruit purées; fruit and
wine grape juice concentrate; fresh wine grapes
(during harvest); and oak barrels.www.johnfearless.com
18Ciatti Global Market Report | October 2017
Export Pricing: USD per liter Currency Conversion Rates as of October 13, 2017
Argentina (Pricing in bulk; FCA)
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.55 - 0.65 ↔ 2016 Generic Red 0.90 - 1.10 ↔
2016 Chardonnay 1.20 - 1.40 ↔ 2016 Cabernet Sauvignon 1.80 - 2.00 ↔
2016 Torrontes 0.60 - 0.80 ↔ 2016 Syrah / Merlot 1.50 - 1.60 ↔
2016 Muscat 0.70 - 0.80 ↔ 2016 Malbec Entry-Level 1.80 - 2.00 ↔
2016 Bonarda 1.50 - 1.60 ↔ 2016 Malbec Premium 2.50 - 3.50 ↔
Australia & New Zealand AUD Rate: 0.788767 / NZD Rate: 0.718962
Vintage Variety Price Trend Vintage Variety Price Trend
NV Dry White 0.55 - 0.67 ↑ NV Dry Red 0.71 - 0.79 ↑
2016 Chardonnay 0.67 - 0.75 ↑ 2016 Cabernet Sauvignon 0.91 - 1.10 ↑
2017 Sauvignon Blanc 0.71 - 0.91 ↔ 2016 Merlot 0.87 - 1.06 ↑
2017 NZ Marlborough SB 2.52 - 3.09 ↔ 2016 Shiraz 0.91 - 1.10 ↑
2016 Pinot Gris 1.03 - 1.18 ↑ 2017 Muscat 0.59 - 0.71 ↔
California (Pricing in bulk; FCA)
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.79 - 0.99 ↔ 2016 Generic Red 0.85 - 1.05 ↔
2016 Chardonnay 1.52 - 1.85 ↑ 2015/2016 Cabernet Sauvignon 1.59 - 2.11 ↑
2016 Pinot Grigio 1.39 - 1.72 ↓ 2016 Merlot 1.32 - 1.58 ↔
2016 Muscat 1.19 - 1.32 ↔ 2016 Pinot Noir 1.85 - 2.25 ↑
2016 White Zinfandel 0.85 - 0.99 ↔ 2016 Syrah 1.32 - 1.58 ↔
2016 Colombard 0.86 - 1.12 ↔ 2015/2016 Zinfandel 1.72 - 2.11 ↔
Chile (Pricing in bulk; FOB Chilean Port)
Vintage Variety Price Trend Vintage Variety Price Trend
NV Generic White 0.66 - 0.75 ↔ NV Generic Red 0.72 - 0.85 ↑
2017 Chardonnay (Basic) 1.10 - 1.20 ↔ 2017 Cabernet Sauvignon (Basic) 1.05 - 1.15 ↔
2017 Sauvignon Blanc 1.15 - 1.25 ↑ 2017 Cabernet Sauvignon (Varietal Plus) 1.25 - 1.40 ↔
2017 Syrah 1.05 - 1.15 ↔ 2017 Merlot (Basic) 1.10 - 1.15 ↔
2017 Carmenere 1.30 - 1.40 ↑ 2017 Merlot (Varietal Plus) 1.25 - 1.40 ↔
2017 Pinot Noir 1.30 - 1.40 ↑ 2017 Malbec (Basic) 1.45 - 1.55 ↔
2017 Malbec (Varietal Plus) 1.60 - 2.00 ↔
19Ciatti Global Market Report | October 2017
France (Pricing in bulk; Ex-Winery) Rate: 1.184340
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.65 - 0.71 ↑ 2016 Generic Red 0.71 - 0.77 ↑
2016 Chardonnay IGP 1.07 - 1.18 ↔ 2016 Cabernet Sauvignon IGP 1.07 - 1.18 ↑
2016 Chardonnay VDF 1.01 - 1.13 ↔ 2016 Cabernet Sauvignon VDF 1.01 - 1.13 ↑
2016 Sauvignon Blanc IGP 1.01 - 1.18 ↔ 2016 Merlot IGP 1.01 - 1.13 ↑
2016 Sauvignon Blanc VDF 1.01 - 1.18 ↔ 2016 Merlot VDF 0.95 - 1.01 ↑
2016 Generic Rosé IGP 0.83 - 0.95 ↔ 2016 Red Syrah / Grenache IGP 1.01 - 1.13 ↑
2016 Generic Rosé VDF 0.83 - 0.95 ↔ 2016 Varietal Rosé IGP 1.01 - 1.07 ↔
Italy (Pricing in bulk; Ex-Winery) Rate: 1.184340
Vintage Variety Price Trend Vintage Variety Price Trend
2016 Generic White 0.47 - 0.71 ↑ 2016 Generic Red 0.47 - 0.59 ↑
2016 Chardonnay 1.01 - 1.18 ↔ 2016 Cabernet Sauvignon 0.89 - 1.18 ↑
2016 Pinot Grigio 1.24 - 1.42 ↑ 2016 Merlot 0.89 - 1.18 ↑
2016 Prosecco 2.96 - 3.55 ↔ 2016 Primitivo / Zinfandel 1.42 - 1.66 ↔
2016 Chianti 1.89 - 2.37 ↔
South Africa (Pricing in bulk; FOB Cape Town) Rate: 0.075287
Vintage Variety Price Trend Vintage Variety Price Trend
2017 Generic White 0.42 - 0.45 ↑ 2017 Generic Red 0.50 - 0.54 ↑
2017 Chardonnay 0.56 - 0.64 ↑ 2017 Cabernet Sauvignon 0.64 - 0.79 ↑
2017 Sauvignon Blanc 0.64 - 0.79 ↑ 2017 Ruby Cabernet 0.53 - 0.56 ↑
2017 Chenin Blanc 0.45 - 0.54 ↑ 2017 Merlot 0.64 - 0.72 ↑
2017 Muscat 0.53 - 0.56 ↑ 2017 Pinotage 0.56 - 0.64 ↑
2017 Generic Rosé 0.42 - 0.47 ↑ 2017 Shiraz 0.60 - 0.68 ↑
2017 Cultivar Rosé 0.51 - 0.54 ↑ 2017 Cinsaut 0.51 - 0.54 ↑
Spain (Pricing in bulk; Ex-Winery) Rate: 1.184340
Vintage Variety Price Trend Vintage Variety Price Trend
2017 Generic White 0.59 - 0.65 ↑ 2017 Generic Red 0.68 - 0.77 ↑
2017 White Blends (Higher Quality) 0.71 - 0.77 ↑ 2017 Generic Red (Higher Quality) 0.77 - 0.95 ↑
2017 Sauvignon Blanc 0.95 - 1.18 ↑ 2017 Cabernet Sauvignon 0.89 - 1.01 ↑
2017 Chardonnay 1.01 - 1.18 ↑ 2017 Merlot 0.95 - 1.07 ↑
2017 Generic Rosé 0.66 - 0.71 ↑ 2017 Syrah 0.89 - 1.01 ↑
2017 Varietal Rosé 0.83 - 0.95 ↑
2017 Moscatel 0.83 - 0.89 ↔
20Ciatti Global Market Report | October 2017
ArgentinaEduardo Conill
T. +54 261 420 3434
Australia / New ZealandMatt Tydeman
Simone George
T. +61 8 8361 9600
California – Import / ExportCEO – Greg Livengood
Steve Dorfman
T. +415 458-5150
California – DomesticT. +415 458-5150
John Ciatti – [email protected]
Glenn Proctor – [email protected]
John White – [email protected]
Chris Welch – [email protected]
ConcentrateJohn Ciatti
T. +415 458-5150
Canada & US clients outside of CaliforniaDennis Schrapp
T. 905/354-7878
ChileMarco Adam
T. +56 2 2363 9206 or
T. +56 2 2363 9207
China / Asia PacificSimone George
T. +61 8 8361 9600
France / ItalyFlorian Ceschi
T. +33 4 67 913532
GermanyChristian Jungbluth
T. +49 6531 9734 555
SpainNicolas Pacouil
T. +33 4 67 913531
UK / Scandinavia / HollandCatherine Mendoza
T. +33 4 67 913533
South AfricaVic Gentis
T. +27 21 880 2515
-or-
Petré Morkel
T. +27 82 33 88 123
John Fearless CO. Craft Hops & ProvisionsCEO - Rob Bolch
Sales - Geoff Eiter
T. + 1 800 288 5056
www.johnfearless.com
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