For such an old wine-producing country, Argentina seems incredibly young.

Despite a wine history stretching back five centuries, Argentinian wines only started making waves internationally in the 1990s. The reasons for this are many, but can pretty much be boiled down to one common denominator: bad luck.

It was certainly bad luck for the locals when vines first arrived – they were brought by the conquistadores, who swiftly proceeded to deliver the traditional discipline of the time at sword-point, ruthlessly exploiting the resources and the people of the continent.

The soldiers were followed by priests, who also brought winemaking to Argentina. The first recorded commercial vineyard was located at Santiago del Estero, in the north of today's Argentina, by Jesuits, who were clever enough to realize that better vineyard land could be found to the southwest, in Mendoza. By the end of the 1560s, Mendoza was a well-established region.

It was not long afterwards that Malbec arrived from France, brought over because it was believed it would thrive in Argentina's conditions. And, boy, did it ever? Malbec became the star grape to such an extent that it is now more associated with Argentina than with France. It features heavily on the list of best-value wines, although Cabernet Sauvignon is also a top performer.

However, a strong, thriving domestic market did not translate readily into exports. By the start of the 20th Century, Argentina was producing vast quantities of wine, the lion's share of which was consumed by thirsty locals. They're still consuming it, too, with some estimates putting per capita consumption at 12 gallons (45 liters) a year. The industry has typically followed the general economic performance of the country and that's where bad luck rears its head again.

Consider that in the 1920s, Argentina was one of the richest countries on earth, its agriculture fuelling both domestic consumption rises and healthy exports. Then – bam! – the Great Depression hits and everything goes into reverse. A brief post-World War II boom under Peron gave rise to optimism, but that was snuffed out by the usurpation of democracy by the military juntas of the 1960s and '70s.

Since the removal of the generals, the country has tended to stagger from financial crisis to financial crisis, and hyperinflation and economic stagnation have hurt the industry; for every two steps forward there is at least one lurch in the opposite direction. However, since the '90s, the focus turned to quality over quantity and thousands of acres of vineyard have been ripped out. The resultant rise in quality and relatively low prices has attracted consumers keen on well-made wines at a sharp price point.

So, let's take a look at the wines. The criteria is – as ever – bang for buck. We've looked for wines with a 90-plus aggregated score and then divided that score by the average price, giving a value factor that equates to the number of points scored per dollar spent.

Argentina Values on Wine-Searcher:

2016 Finca Sophenia Altosur Malbec, Tupungato 9.1

2014 Bodega Tapiz Alta Collection Malbec, Uco Valley 5.35

2014 Dominio del Plata BenMarco Expresivo, Mendoza 5.05

2014 Terrazas de los Andes Reserva Cabernet Sauvignon, Mendoza 5.05

2013 Francois Lurton Gran Lurton Cabernet Sauvignon, Mendoza 5.05

2012 Dominio del Plata Susana Balbo Signature Malbec, Mendoza 4.55

2014 Chakana Estate Selection Red Blend, Mendoza 4.33

2014 Mendel Cabernet Sauvignon, Mendoza 4.33

2014 Catena Zapata Catena Appellation Agrelo Cabernet Sauvignon, Lujan de Cuyo 4.33

2014 Trapiche Medalla Malbec, Uco Valley 4.14

A couple of things are striking about that list. The first is that value factor for the Finca Sophenia. Given the highest factor we've had so far in this series has been 5.26 (and that was from California, of all places), a factor of 9.1 is extraordinary. This is due to the wine's aggregate score being a very respectable 91 and the average price a mere $10.

The next thing is that 2014 was clearly a superior vintage in Argentina, with seven of these wines coming from that year. That's odd, given the challenges Mendoza growers had that year. A heatwave broke suddenly and the region received an entire year's annual rainfall in just three weeks, causing chaos. It doesn't seem to have affected too many of these wines, though, with the lowest aggregate score for a 2014 being 91.

Overall, the value factors are high; the lowest-ranked wine on this list would have been in the top half of the California list. This shouldn't come as a surprise; after all Argentina made its international reputation on good-quality wines at a sharp price. What is kind of a surprise, though, is the wine in ninth place; the Catena Zapata Agrelo Cabernet has the same score as its stablemate, the Catena Zapata Estiba Reservada, also from Agrelo. However, that wine is Argentina's most expensive at an aggregate price of $745, while the one on this list will set you back an average of just $21.

Now that's value.

To view on Wine-Searcher, please click here.