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Issue 450 - Decembre 9th - 13th 2019 - Expressly created for 11.897 wine lovers,
professionals and opinion leaders from all over the world |
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If, for now, the U.S. super-duties in the dispute between Boing and Airbus have spared Italian wine, the new year could bring anything but positive news: the United States Trade Representative launched a consultation, expiring on January 13, to assess that are already affected by duties should, or possibly will not continue to be affected, regarding Made in Italy products such as cheeses or liqueurs. It has also published a second list of products on which duties up to 100% could be introduced, including sparkling wines and still wines, but also water, fruit juices, pasta, oil and so on produced in the main EU countries. |
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Brexit, and its probable consequences is worrying, quite rightly, the wine producers around the world, because the UK is the number two global market for wine imports, totaling 3.5 billion euros in 2018, and second only to the USA. It seems that the best antidote to potentially damaging consequences of Brexit, such as an increase in duties and consequently in bottle prices, would be quality. 42% of consumers say they would definitely reduce consumption in the event of a probable 10% increase in the bottle price, while 24% say they will not change their habits in any case. Instead, the percentage of those who say they will not change their wine consumption as long as quality remains high, is more than double (23%) those who say they are ready to abandon the glass. The main results of the Wine Monitor survey indicated that the English define fine wines primarily by the company brand, sensory qualities, originating from highly suitable territories, pairing with haute cuisine, and secondarily by the rankings of guides, the historicity of the brand, limited production, and their presence in top restaurants and wine shops. These are the main highlights of Wine Monitor’s research for the Istituto Grandi Marchi led by Piero Mastroberardino (which unites 19 of the most representative wineries in Italy, Alois Lageder, Ambrogio and Giovanni Folonari Tenute, Antinori, Argiolas, Col d’Orcia, Ca’ del Bosco, Carpenè Malvolti, Donnafugata, Gaja, Jermann, Lungarotti, Masi, Mastroberardino, Michele Chiarlo, Pio Cesare, Rivera, Tasca d'Almerita, Tenuta San Guido and Umani Ronchi), presented in Rome. A strategic market for Italy, and more and more split into two: a large-scale distribution, where mainly low priced wines run, and a fundamental horeca channel for wines of greater value. It is no coincidence that Wine Monitor's survey focuses on e-commerce catering (which in the UK accounts for over 10% of wine sales). Analyzing 350 restaurants in London, 63% of them have at least one top Italian label in the wine list (considering only bottles of 0.75 over 50 pounds): the fine Italian wines represent a total of 16% of references, behind France (57%). While in the online channel, 36% of Italian references (15% of the total) are made up of fine wine. |
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Italy’s only one to grow (along with Champagne), the Barolo Monfortino Riserva 2002 by Giacomo Conterno (+75%) top performer absolute, accompanied, in the top 10, by multiple labels signed by Gaja: all are Italian 2019 high lights of fine wines shown in the analysis of the Benckmark market Liv-Ex. With the great investment wines, which, after years of tumultuous growth, have suffered a marked setback: in the last 12 months (data closed in November 2019), all the main indices have recorded negative signs, with the Liv-Ex 100, reference index of the platform, at -2.86%, and the Liv-Ex 1000 at 3.78%. This performance is due to the collapse of the prices of the great wines of France, with indices such as Bordeaux Legends 50 and Burgundy 150 falling by more than 7% in 12 months. The only index to grow is that of Italy 100, which recorded a remarkable +5.47%. |
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The tree, the gifts, the lights: Christmas has already arrived and brings with it tables full of traditional dishes and glasses in the air, ready for the celebration toasts. And as far as toasting is concerned, the Italian bubbles are the masters of the scene: according to forecasts by Uiv-Unione Italiana Vini, and Ismea, more than 78 million bottles will be uncorked in Italy during the Christmas period, 6% more than in 2018, 74 million of which are produced in Italy, an increase of 8% over 2018, and the rest imported from abroad, a figure that, on the other hand, drops by 25%. In the media, every Italian will consume almost 3 bottles of bubbles (2.7 to be precise), considering only the usual consumers of wine that in Italy are 29 million individuals. Abroad, on the other hand, Italian bubbles will exceed 190 million uncorked bottles with a 6% increase over Christmas 2018. In detail, by the end of the year all the main denominations are included in the growth of sales, both classic method as Trentodoc, Oltrepò Pavese and Franciacorta (+ 8% accumulated), as well as those using the Italian method, such as Asti and Prosecco (+ 7%) or from smaller areas, which, in recent years, have seen a recent increase in the production of bubbles, from Abruzzo to Sicily, passing through Tuscany and all of Central Italy. |
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Farnese Vini, one of the most important realities of Italian wine, is among the desires of the great funds of world finance. For the company, led by Valentino Sciotti and controlled by Nb Renaissance (with a turnover of 75 million euros, more than 90% from exports), as reported by the newspaper “Il Sole 24 Ore”, non-binding offers would be being considered, coming from the financial group Stirling Square, the private equity Capvest, the American fund Platinum and the Italian Epic-Equity Partners Investment Club. |
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The link between quality and price has always been both a blessing and a curse of Italian wine in the world, with Italy able to offer a huge variety of products at very affordable costs. A characteristic that is reflected in the great presence of Italian wines in the “100 Top Values” of Wine Spectator, the ranking of the prestigious U.S. magazine, which selects the 100 best labels, which that, on the U.S. shelf, the world’s No. 1 market and vital for Italy, cost less than $ 25. There are 17 Italian bottles on the list, just under one in five, with a selection that covers all of Italy, from Valtellina to Sicily, from Franciacorta to Valdobbiadene, from Chianti Classico to Valpolicella, from Soave to Verdicchio, from Salento to Umbria. With wines signed by wineries such as Collemassari, Castello di Gabbiano, Castello Banfi, Gini, Cleto Chiarli, La Montina, Mionetto, Querciabella, Le Colture, Nino Negri (Gruppo Italiano Vini). |
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It is growing, but the export of Italian wine is holding back. At least looking at the trend of the first 9 months of 2019, hoping that the end of the year may give a positive boost. According to Istat data, between January and September, wine was exported from Italy to the world markets for a total value of 4.6 billion euros, an increase of +3.8% over the same period in 2018. A positive figure, therefore, overall, but which shows a slowdown, for example, on the +5.4% that was recorded until May. Veneto is the absolute leader, with 1.6 billion euros. |
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