Santiago, Apr 11 (IANS/EFE): There will be no lack of wine in the Chilean market despite huge losses incurred after the devastating earthquake in February.

Chile, one of the biggest wine exporters in South America, lost more than 125,000 litres of wine in the Feb 27 quake that devastated the central and southern regions of the country, industry association Vinos de Chile said in a statement.

Despite the losses inflicted on the wine-making sector by the earthquake, "there will be no lack of wine in the market," Jose Manuel Garcia-Huidobro, executive of the Concha y Toro, the biggest wine exporter in Chile said Saturday.

"We're going to have Chilean wine for many more years and for this one too, so there's no need to worry," he said during the 2010 Bicentennial Wine Festival held in Puente Alto, a small town southeast of Santiago.

Garcia-Huidobro said there were losses worth some $100 million but denied there were attempts to hide the truth to calm foreign buyers and suppliers.

Other countries are trying to take advantage of the situation, but the existing stock of wine is good enough, he said.

"We're well positioned and are taking every measure so there's no lack of wine in any market," he said.

Meanwhile, Catherine Klein, regional governor, also spoke about the wine industry not being affected by the earthquake.

"The market keeps going, the companies are working full speed ahead and the wine will be on tables all over the world," she said.

Last year, Chile exported wine totalling 64 million litres worth $101 million, figures that show an annual increase of 62.8 percent and 36.5 percent respectively, the Wine Association of Chile said.