According to the latest international exports figures, the Spanish wine has taken over its French counterpart as the most popular wine in the world. However, the French wine is still more than three times expensive than the Spanish drinks. This is primarily because Spain’s wine is sold in bulk and not in bottles.

Spain has made a record by exporting 2.4 billion litres of Ribera del Duero, Rioja and other wines in 2015 alone. The export figures have significantly transcended France’s position that, until now, boasted of its record export of two billion litres, according to the Spanish Wine Market Observatory.

However, when it comes to profit, the Spanish sales could only fetch €2.6 billion (AU$3.83 billion) as compared to the French turnover of €8 billion (AU$11.90 billion).

“The situation is frustrating, but we know what we have to do to catch up,” the Independent quoted Rafael del Rey, the head of the Spanish Wine Market Observatory, as saying. “We need to sell less wine in bulk to other producers and more Spanish wine that indicates origin. The Spanish wine industry will look very different in 10 years’ time.”

He added that Italy was in the same situation 15 years ago as Spain is in at present. However, the producers in Italy have doubled their average price. Last year, Italy also exported wine worth €5 billion (AU$7.43 billion).

“Spanish wines can compete with some of the best wines in the world,” the NBC news quoted Eric Lagarde of M. Touton Selection, which distributes wine in the U.S, as saying. “And for the most part they are great value — especially right now with a stronger dollar.”

However, for the European Union as a whole, wine exports have increased owning to greater demands from the US and China.

“The European Union remains the most important wine exporter worldwide and, after three years of relative stability, [it] attained its best ever performance in 2015,” the Independent quoted Jean-Marie Barillère, president of the Comité Européen des Entreprises Vins, as telling The Drinks Business magazine.