Unhelpful weather at different times in the growing season, including frost and late season rain, means Argentina's 2014 wine grape haul is set to drop by around a fifth versus last year, according to the country's National Institute of Viticulture.
Wine tourism in Argentina is on the rise, spurred on by the devalued peso that has recently dropped 30% against the US dollar. This makes visiting Argentina attractive not only to Americans, but to many Brazilians as well who find excellent deals on wine and food.
No one can argue with the strength of "brand Malbec", which is bringing new consumers to wine via its generous and reliable style, but what does Argentina need to do in order to avoid Malbec becoming a commodity?
"This new generation is much more conscious about environmental problems and more committed to healthy, sustainable agriculture ... and also for the production of wines that have a stronger connection to the Earth."
"The fantastic thing about 'The New Chile' is that we are nine wineries working together, and that is quite unusual in the wine world," he said. "We are here with five of the wine producers sitting at the same table and trying our wines together, which is quite unique - you won't find this very often."
While Argentina is South America's largest wine producer and the world's largest producer of Malbec, its wine regions grow a wealth of varietals spanning from Torrontes to Riesling, Syrah to Bonarda, Cabernet Franc to Cabernet Sauvignon and the list goes on.
Santa Rita Estates is seeking to inject greater charisma into Chile's wine offer with the launch of a South American-inspired range, its first ever oak-aged Sauvignon Blanc and a pair of surfer-themed wines.
A severe frost in Chile wiped out an estimated 20 percent of the country's crop earlier this month, which could reduce the 2014 harvest. However, a leading analyst views that as good news, as lower output in 2014 would help restore balance to Chile's wine industry.