Spanish wine sales can return to growth in the next year thanks to its diversity and ability to compete at both ends of the market, according to a leading importer.
Richard Cochrane, managing director at Felix Solis, which has wineries in La Mancha, Ribera del Duero, Rueda, Rioja and Toro, told OLN: “The UK for Spain dropped about 10% in the last 12 months. For the first time ever Rioja has come a little bit off the boil as retailers have moved away from half-price promotions. Rioja Reserva was one of the stalwarts for it and switching that off has seen volumes drop.
“But we are quite upbeat. We think Spain will go back into growth over the next 12 months, from 10% decline it will flat-line and then back to growth, because all the ingredients are there.”
He believes Spain is the most competitive country on the planet for wine production because it has the largest area under vine and has ideal conditions for growing grapes.