A complex situation has faced in recent weeks the Chilean wineries producing wine for export. The constant fall of the exchange rate, low production volumes and the tailbacks that Brexit originated in the United Kingdom, have installed an uncertain environment for Chilean vineyards for this 2018. Several vineyards have adjusted their budget for investments, due to the increase in raw material and labor costs.
For the vintners it is difficult to handle these external variables, since the remittances receive them in dollars, while the costs in remunerations, grapes (when there are shortages) and inputs must be paid in Chilean pesos.
This scenario had already originated several changes in different Chilean vineyards. This is the first time that a situation of these characteristics has occurred that has even produced worker layoffs. On the other hand, nobody can be assured that this situation will change. On the contrary, it could happen that this problem is deepened.
Hope put in China
Faced with this scenario, China appears as a hope for the Chilean vineyards. The growth potential in consumption of that Asian market and the impressive increases in volume and value shown by Chilean wines in that country emerge as a positive way to counteract the poor performance that Britain has had as a result of Brexit and the high competition that exists in the United States.
China was, for the second year in a row, the main destination for shipments of Chilean wine for export. A total of 8.2 million boxes were exported to the Asian giant in 2017 and sales of US $ 254 million were achieved. Canada and Japan also appear as attractive destinations for national firms.
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