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: â€œThe 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.
â€œBut 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.â€
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.