Chile has become a significant fine-wine producer, ranking fourth in global exports. A free-trade agreement with China has allowed it to surpass Australia in that market. Despite a small harvest in 2023, Chilean wines are gaining recognition, particularly through established advocates and successful tastings. Red wines, especially Cabernet, remain the focus of Chile’s wine industry.
Chile has emerged as a prominent player in the global wine market, competing closely with Australia and ranking as the fourth largest exporter of wine worldwide. Its trading prowess is particularly highlighted by its advantageous free-trade agreement with China, which has enabled Chilean wines to enter the Chinese market free of tariffs since 2015. Consequently, Chile has become the second largest supplier of wine to China after France, especially after Australia faced tariffs that restricted its access from 2021 to 2024.
In 2023, despite experiencing a notably small harvest, Chile exported more wine to China than to its traditional markets such as the UK and the US. It is important to note that the UK remains an enthusiastic supporter and importer of Chilean wines, maintaining its interest despite recent shifts in consumer preferences.
Chilean wines have historically been perceived as affordable by American consumers, although this perception may be changing following the recognition of Don Melchor 2021 as Wine Spectator’s Wine of the Year. In the UK, notable advocates of Chilean wine, such as Master of Wine Peter Richards and his wife Susie Barrie, have been instrumental in promoting quality Chilean offerings. Last year, they hosted a tasting event showcasing 53 selected Chilean wines, attracting a substantial number of trade buyers.
The tasting primarily featured red wines, with 35 of the showcased items falling into this category. Notably, the event included 13 examples of Cabernet and Cabernet blends, underscoring the strength of Chile in this varietal. Specifically, the El Principal’s 2022 Memorias blend was recognized for its value, incorporating a blend of Cabernet Sauvignon, Petit Verdot, and Cabernet Franc.
Chile’s ascent as a fine-wine producer is noteworthy, owing largely to its strategic trade agreements and the quality of its offerings. The country’s ability to penetrate the Chinese market effectively showcases its growing influence, particularly as it navigates changing global dynamics. While the UK continues to value its wines, the recognition received in the US indicates a promising future for Chilean wines as consumers seek higher quality.
Original Source: news.wine.co.za
