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Issue 464 - March 16th - 20th 2020 - Expressly created for 11.897 wine lovers,
professionals and opinion leaders from all over the world |
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Italian red wines are the most present in the wine lists of restaurants in Singapore, in both the category dedicated to territories and the one dedicated to brand names, at least in times of "peace", before the Coronavirus emergency. As reported by Mibd, in first place among the reds there is Chianti Classico, followed by Igt Toscana in second place and Barolo in third, then Brunello di Montalcino, in fifth place, and Barbaresco, in fourteenth place. Among the most popular brands on the wine list are Tenuta San Guido (Sassicaia), Tignanello (Marchesi Antinori) in fifth, Gaja in seventh, Antinori in tenth, and Solaia (Marchesi Antinori) in thirteenth. |
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From Europe to the United States, the Coronavirus emergency has become global, and even those who initially took it lightly, are now forced to take draconian measures, following the example of Italy. Starting with the USA, with the closure of schools, universities, in many cases museums and catering activities in the main states. For the names at the top of the Italian production pyramid, a new crisis front is opening up, after Asia - which is giving the first important signs of awakening - the internal market, and Europe, as the presidents of the Consortia of great wines of Italy told WineNews. The alarm was raised by the president of the Consorzio del Brunello di Montalcino, Fabrizio Bindocci, who expressed “an undeniable concern of our producers in terms of the market. Within a few days our biggest sales channel, the on-trade, stopped in the two main world markets: the USA and Italy represent on average 60% of Brunello’s global sales”. For the president of the Consorzio di Barolo e Barbaresco, Matteo Ascheri, “the risk is that the situation in Italy could be repeated in the USA, which for us is worth 30% of exports, with the boom in large-scale distribution that does not concern great wines”. On the same line Filippo Mobrici, president of Consorzio Barbera d'Asti e Vini del Monferrato, who shares “the concern about an emergency that is destined to last for a long time: the USA, which was the last to take note of the situation, is already starting to show the first slowdown”. The hope, for the president of the Consorzio Chianti Classico, Giovanni Manetti, “comes from Asia, where orders are starting up again with a certain speed, but for us the U.S. is worth a third of sales”. From Bolgheri, Cinzia Merli, vice president - with Priscilla Incisa della Rocchetta - of the Consortium led by Albiera Antinori, speaks of “a limbo in which the entire wine world is living: in Italy the market is at a standstill, we expect the same in the USA”. The president of Doc Sicilia, Antonio Rallo, is also preparing for the worst, with “on-trade consumption in the USA destined to collapse”.Stefano Zanette, president of Prosecco Doc, who expects “the same performance as in Italy, that is, the ho.re.ca. stopped and the Gdo growing”. |
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The wine supply chain (Confagricoltura, Cia - Agricoltori Italiani, Copagri, Alleanza delle Cooperative Italiane, Unione italiana Vini, Federvini, Federdoc and Assoenologi) puts on paper the proposals to be submitted to the Government and the European Union to overcome the difficulties due to the serious crisis linked to the spread of Covid-19. The wine supply chain has proposed to the Minister of Agriculture Teresa Bellanova an initial series of measures. With a view to the forthcoming Council of Agriculture Ministers in Brussels, the request is to develop a common strategy for support for the food sector with the other European partners, while for the wine sector a strong injection of flexibility into existing measures, including the system of planting permits, investment and promotion to free up resources for the sector, to support and relaunch the economy. |
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The growth of Italian sparkling wine continues, which closes 2019 with yet another positive figure of foreign demand, which, for the first time, has exceeded 4 million hectoliters (+ 8%), against a + 5% of the corresponding revenues. Internal consumption also performed well, + 6% overall, and production growing proportionally to exceed 760 million bottles, of which two-thirds take the foreign route, for an estimated value of 3.3 billion euros, as told by the data processed by Ismea. In terms of destinations, there is a marked progression (+ 14%) of shipments of sparkling wines to the United States, accompanied by a less than proportional, but always double-digit (+ 12%) growth in revenues. In the United Kingdom, on the other hand, a 10% reduction in fees is added to substantial stability in volumes. Strong drop in Germany, third destination of Italian bubbles (-4.2% in value). A curious fact is that of France, where 28% more sparkling wine (+ 25.5% in value) was shipped, almost entirely Prosecco. The future, on the other hand, is becoming increasingly indecipherable, with the impact of Brexit, the constant threat of US tariffs and, now, the Covid-19 pandemic that have hit the economy and consumption. |
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The Coronavirus emergency no longer concerns only Italy, it is now a pandemic, and after the first resistances, also the Governments of the other Western affected countries are running for cover. In France Macron follows the Italian model: two weeks of stop and forced closure for any activity that is not strictly necessary. In Spain, where the situation is serious, the Asociación Española de Ciudades del Vino invites the Spanish to stay at home. Less stringent measures in the UK and if the clubs in Germany are open from 6am to 6pm, in the USA the “lockdown” is triggered in New York and Las Vegas. |
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Michael Broadbent, “the Gentleman of Wine”, an authority in the wine world, capable of marking the history of wine critics and the world of fine wine auctions, passed away. He was 93 years old, his Master of Wine diploma, in 1960, was signed by Queen Elizabeth, he led the Wine Department of Christie’s auction house for 30 years and, above all, he had lined up 90,000 tasting notes, divided into 140 notebooks, collected in the legendary “The Great Vintage Wine Book”. A lover of French wines, but also Italian ones, from Sassicaia to Brunello by Biondi Santi, passing through Barbaresco by Gaja, as he told WineNews in 2001 ... |
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In the days of the Covid-19 epidemic, with the Stock Exchanges entering a downward spiral, the secondary market for fine wines, analyzed by the trend of Liv-ex, has shown that it can withstand even the storm, and while the Ftse100 and Ftse250 have started to collapse since March 2, the Liv-ex has limited the damage. The share of Bordeaux wines traded reached 57.3% last week, while Italy (12.3%). Giacomo Conterno’s Barolo Riserva Monfortino 2013 was not only the most traded wine of the week, but also since the beginning of the year. |
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