China to Become Chile’s Top Wine Market

 

More China Wine Market News…

cwsa-newsFor many years the United States has been Chile’s leading wine buyer, but that is about to change as Chilean wine exports to China – which have grown by 43% in the past five years – are set to boom by a massive 30% in 2016 alonemaking it the country’s #1 wine market. “China will soon surpass the US as the top consumer of Chilean wine,” said Claudio Cilveti, General Manager of Vinos de Chile, the country’s leading wine association. He went on to explain that, “Chilean wineries are currently seeing sales of $150 million a year in China, which are set to reach $180-$190 million (in 2016).” This growth is largely attributed to a recent trade agreement between the two countries which dropped the import duty rate for Chilean wines from 11.2% to zero as of January of 2015. Recognizing the massive opportunity presented by China, 25 Chilean wineries have opened offices in the country so far. Many Chilean producers have already found great success in China thanks to recent wins at CWSA Best Value 2016, such as Patagon Grand Reserve, Patria Nueva Family Reserve, andSanta Carolina, all of which brought home Double Gold Medals. Enter CWSA 2016 for your chance to join them.

 

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