A myriad of changes are happening simultaneously around our world all the time. A few of note that have become currents in wine and trade are emerging as I scan the headlines online. Of particular interest in the news to CKJY Exports, Asian wine tastes changing.
International trade flows. Changes in policy and pricing can reroute currents to or away from a country. Qatar is being ostracized by their neighbors. While business is getting tighter and changing how trade flows through and around them. For example, natural gas is something that Qatar sells a vast quantity to Japan. However, Japan is currently looking elsewhere because business has gotten much more difficult with Qatar. The United States natural gas producers could benefit from these changes. Recently the Daily Mail featured an article essentially outlining these changes in international trade currents “Qatar crisis to speed the rise of Asia’s spot LNG trade.”
Natural Gas? Wine? What?
What does natural gas have to do with wine? Not much; however, they are both things that are valued by other countries and purchased through international trade. Currently, there is a great deal of trade that occurs in Asian ports; however, the international trade currents may steer more their way if it becomes easier than the Middle East.
Natural gas is much more a commodity than wine. Wine has a character and flavor that is more like a fingerprint. In reality, much wine is being sold more like a commodity today. However, it is shipped in large bladders, mixed with native wine and bottled in the country it will be marketed in for consumption.
Interestingly to the trained palate, the region can be identified by taste alone. Crafted vintages are proudly bottled and marketed around the world from vintner’s in all regions.
Wine Worldwide – Growing Demand
“Global purchases of imported wine totaled US$32.9 billion in 2016″ according to 6/13/17 article shared by World’s Top Exports written by Daniel Workman. Then it goes on to list $ values of imports and to say Among the above countries, the fastest-growing markets for wine since 2012 were: China (up 49.7%), Hong Kong (up 49.4%), United States (up 9.3%) and France (up 1.3%).” Those are amazing percentages of increase in just four years for both China and Hong Kong!
Whether bottled or bulk, Asian wine tastes are developing. At present, the United States is not winning this race. On 6/15/17 Daniel Workman’s “Wine Exports by Country” was published by World’s Top Exports. In the future I will delve more into analyzing what these statistics represent. One quote that stood out is “New World Wine leader the United States incurred the highest deficit in the international trade of wine, assuming that role from United Kingdom since 2014.”
Changes in Asian Wine Tastes & Roles
More and more Asian tourists and students are encountering wine as they travel or study. Additionally, professionals are developing a taste for the finer things in life. Meals are becoming more European with wine served with food. Restaurants are developing wine lists. Wine bars are popping up. Wine shops dot the city streets. Therefore, grocery stores and retail outlets are devoting floor space for separate wine shop areas. Wine is becoming mainstream in Asian cities.
As you can readily see, Asian wine tastes are changing. – Wine is being appreciated more and more.
More to come in future blog posts on the increasing Asian taste for wine and the roles Asian countries play in the international wine trade.
Interested in more?
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Born a Southern girl, I was transplanted a few times as a Navy wife! Now, our “retired” USN family, calls CA home. As UNC business school grad, I gained lots of useful insights by finding different opportunities and challenges along our military life’s path. Love of traveling, making friends, experiencing other cultures and sharing the best of all that with everyone are now all part of me.