PGI Méditerranée transactions soar by 200%

Friday December 22 2017 by Vitisphere

- Photo credit : Creative Commons CC0

The sales season for PGI Méditerranée wines has got off to a flying start, which is not really a surprise. With production volumes down by at least 25% this year, marketers have rushed in to cover their needs. On November 30, transaction volumes had reached 154,000 hl compared with just 54,000 hl at the same time last year, which equates to a record increase of 200%. “Demand is still very strong whilst production has fallen. The sales season is very bullish and most of the wines are either sold or reserved. There are very few supplies left”, said broker Philippe Martin in Vaqueyras. Gilles Giordano, chairman of the Rognes co-operative winery, confirmed the surge in demand: “I have never seen anything like it. Everything happened so fast. We only produced 4,200 hl of rosé PGI Méditerranée compared with our usual crop of 5,000 hl. Everything has been sold. We received calls from buyers that I didn’t even know. We could have sold our wines three times over”.

Record prices

Predictably, prices have soared too – they have followed an upward trend since the start of the buying season. Rosé, which was selling for between €75 and €80/hl in the beginning, had surged to €112/hl by the first week in December. The average increase is 17% compared with last year. Also, 20% of volumes were sold for over 105 euros/hectolitre.

The figures reveal that the denomination has been successfully promoted in the marketplace. Both producers and consumers view PGI Méditerranée rosé as a totally legitimate market component”, said a satisfied Jean-Claude Pellegrin, chairman of InterVins Sud Est, in a press statement. 

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