Grapes & wine: Trading
No exchange: how brokers and supermarkets set prices
What this tab covers How and where it is bought and sold: who buys and sells, exchanges and benchmarks, contract types, the big trading houses and how prices are discovered.There is no exchange for grapes or wine. Table grapes are sold by exporters to importers and supermarkets, often on consignment, in a counter-seasonal supply chain that runs all year. Bulk wine trades through brokers between producers and bottlers. Fine wine has its own markets: Bordeaux sells young wine en primeur through négociants, and the London-based Liv-ex platform publishes fine-wine indices. Growers hedge with crop insurance and weather derivatives, a market Geman links to the weather risk in Australian grapes.
Where it is bought (buyers)
- Supermarkets in the UK, EU, US and Canada buy table grapes on seasonal programmes from importers
- Importers in Russia, Bangladesh, Southeast Asia and the Gulf buy Indian and Chinese grapes
- Wineries buy grapes from growers under annual contracts; bulk wine buyers purchase through brokers
Where it is sold (sellers)
- Peru, Chile, South Africa, China and India export table grapes
- France, Italy, Spain, Australia, Chile and the US export wine
- Nashik exporters and co-operatives such as Mahagrapes ship to Europe from January to April
Exchanges and benchmarks
| Venue | Contract | Notes |
|---|---|---|
| None | no grape or wine futures | fine wine trades on secondary platforms such as Liv-ex |
| India | none | no Indian grape futures; prices set at farm gate and in mandis |
Contract types
- Seasonal supply programmes between importers and supermarkets, often on consignment for table grapes
- Annual grape purchase contracts between growers and wineries, priced per tonne by variety and quality
- Bulk wine sales through brokers
Top trading houses
- Specialist fresh-produce importers and marketers; bulk wine brokers
How prices are discovered
- Wholesale market reports (for example USDA AMS terminal market prices)
- Grower-winery contract prices and regional grape price surveys
- Liv-ex fine wine indices