You're likely not surprised to learn that the bulk wine market is laden with buying opportunities, especially for 2023 Paso Robles Cabernet Sauvignon. The long, cool vintage provided the right conditions to produce Cab that has dark color, ripe fruit, and depth that is superb to most years. Coupled with slower demand, this means that bulk wine buyers have an opportunity to secure exceptional wine at low prices.
Bulk buyers have not yet stepped into the bulk market for 2023 Paso Robles Cabernet Sauvignon in a major volume way, but when they do, they will find a multitude of wines to choose from, ranging from high-tier lots that were made with the finished bottle in mind, to well-made grower lots, to wines that frankly probably shouldn’t have been produced at all. Below you can see a comparison of Paso Cab data from 2022 and 2023. Currently Bozzano and Co. has over 700,000 gallons versus last year's 430,000 gallons at this time. We think that this can be explained by the fact that significantly more tons of Cab Sauv were crushed in Paso (District 8) in 2023 then in 2022 (almost 30%, according to the Grape Crush Report). See graph below:
However, 2022 (and even 2021) Paso Robles Cabernet Sauvignon was especially active in the first half of 2024. Whereas pricing for most other varieties of Central Coast bulk wine declined steeply, Paso Cab prices remained relatively strong compared to the same period in 2023, showing only a 7% drop year to year. Our data also shows us that spot market sales volume did not show any drastic changes, with the volume sold of Paso Cab YTD in 2024 only about 11.5% less than the same period in 2023.
Our data also shows us that spot market sales volume did not show any drastic changes, with the volume sold of Paso Cab YTD in 2024 only about 11.5% less than the same period in 2023. While we all wish we were seeing growth in 2024, many other regions of California are certainly in a tougher position than Paso, and I think we still have quite a bit to be thankful for.
Interestingly, 2023 Paso “Non Cabernet Sauvignon” red bulk wine lots have seen more interest this year than Cab Sauv. By no means is that market performing well by pricing or volume standards, but there are deals happening, with varieties ranging from Grenache and Zin to Malbec and Syrah all trading hands this year. We think that this is emblematic of a few things, including Paso’s increasing volume of Cabernet Sauvignon acreage and market share for Paso Cab. Are wineries and processing facilities producing more Cab during harvest, because they need to triage harvest resources, or because of long-term grape contracts, and looking to the bulk market because of their blending needs? Or do they feel that Paso Cab is a better bet for the bulk wine market? There is likely no answer that would apply to all suppliers this year, but as Dr. Keith Patterson said to many of us Cal Poly SLO alumni when asked questions about the wine industry, “It depends”.
Now is a great time to source bulk wine as there are tons of opportunities for high quality wine at great prices. Please reach out to us if you have any needs or questions, and as always, feel free to stop by the Bozzano + Co. office for a coffee, beer or conversation.
