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Issue 477 - June 15th - 19th 2020 - Expressly created for 11.897 wine lovers,
professionals and opinion leaders from all over the world |
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Vinitaly relaunches: from 22 to 24 November Verona will be the capital of Italian wine, with Wine2Wine Business Forum, to which VeronaFiere, to help companies get business running again, will be flanked by the new Wine2Wine Exhibition. VeronaFiere is ready to stage “Opera Wine 2020”, the tasting, signed by “Wine Spectator”, with the best 100 Italian wineries. An important sign of the restart for the entire sector, by the most important fair dedicated to Italian wine, with an important institutional investiture, by Minister of Foreign Affairs Luigi di Maio, and the Minister of Agriculture Teresa Bellanova, who will be present at the presentation on June 22. |
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“Well begun is half done”. How true in Covid-19 time for Italian wine in world markets, with the wineries of the Belpaese that, thanks to a sprint start in the first months of 2020, all in all, at least in non-EU markets, have held on. A positive signal, but which does not allow us to relax. The data from the Vinitaly-Nomisma Wine Monitor (from customs sources), which show the start of the year divided in two: the first two-month record-breaking, the second to forget. With an April in full global lockdown and among the worst ever. Overall, measuring the performance in terms of value for the period in the top 10 importing countries (which account for 50% of the country’s exports), Italy scores by surprise +5.1% on the same period of the previous year, thanks to excellent performance in the United States (+10.8%, for 613 million euros, in the first 2 months the figure was +40%) and Canada (+7.1%, for 116 million euros). Deep red, on the other hand, on French wine (-10.1%), in retreat in its key markets in both East and West. However, in the coming months wine, including Italian wine, will have to deal with a generally lower purchasing power all over the world, in addition to the disposal of unsold wine in restaurants and importers’ warehouses. Without considering the trend of EU demand in April, which, as said, is expected to be more negative. “This is a decisive moment for the future of Italian wine; the global crisis forces us to make important choices now,” stressed Giovanni Mantovani, Director General of VeronaFiere, “which will also affect the long term. This is why Vinitaly has multiplied its observation points and in these months leading up to the Wine2Wine Exhibition&Forum in November will increasingly lead companies and institutions on a shared and multi-channel reading of the market dynamics of our wine in the world”. Among the positive notes, again, the growth of Italy’s market share in almost all importing countries, with substantial increases in Switzerland (from 33.1% to 37.7%) and the USA (from 31.4% to 34.2%). |
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Between March and May 2020, in Italy alone, the world of wine lost something like 2 billion euros, “equivalent to 20% of revenues no longer recoverable in 2020”. This is the analysis presented today by Davide Gaeta, professor at the University of Verona (and producer with the Eleva winery), in the webinar organized by Foragri, with L’Informatore Agrario, Vite & Vino and Centro Studi Management DiVino. The profits that, according to Luca Castagnetti, director of the DiVino Study Centre Management, will be down for small (-3.6%) and medium (-2.3%) wineries, while the large ones will keep more (+1.1%, compared to +5.7% in recent years): “the need for financial instruments will explode, with an increase that for companies from 3 to 10 million euros will be 7 times higher than in the pre-Covid period”. |
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Dreaming doesn’t cost anything, and it is important to do it in difficult times like this. Even through dreamy wines. According to Wine-Searcher, the largest wine price monitoring and comparison portal in the world, the label with the highest average price is that of Giuseppe Quintarelli’s Amarone della Valpolicella Classico Selezione, a qualitative pearl of the great Veneto region, in front of a sacred monster like Giacomo Conterno’s Barolo Monfortino Riserva, at 1,078 euros. On the podium also, the Barbaresco Crichet Paje of Roagna, at 750 euro. Position n. 4 for Masseto, at 712 euros per bottle, in front of two other icons of Tuscany, the Brunello di Montalcino Riserva Case Basse by the late Gianfranco Soldera, and Le Pergole Torte 50 anni of Montevertine, at 618 euros. Among the top 10 most precious Italian labels, there is again Quintarelli, with the Amarone della Valpolicella Classico Riserva at an average price of 616 euros, Barolo Le Rocche di Castiglione Falletto by Bruno Giacosa at 602 euros, Refosco dei Colli Orientali del Friuli "Calvari" by Miani at 590 euros, Barolo Riserva Ca d'Morissio by Giuseppe Mascarello e Figlio at 510 euros. And then gradually, many other enological masterpieces of reality as Biondi Santi, Sandrone, Cappellano, Antinori, Gaja, Giacosa, Roagana, Avignonesi, Aldo Conterno and more. |
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Wine is a family business. And so, in the USA, a new alliance is born between Allegrini, one of the most important families in the Italian wine country, and Trinchero, at the helm of Trinchero Family Estate, the second largest “family” reality of wine in the United States and the world, after Gallo. A collaboration, that between Allegrini and Trinchero, focused on San Polo, the Brunello di Montalcino winery of the Allegrini group (led by their daughters Caterina and Carlotta), while the partnership with Lux Wine di Gallo continues, for the wines of Valpolicella and Bolgheri. |
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The export of Italian wine, at least in the first 3-4 months of 2020, has held up. This is also reflected in the performance of the various regions recorded by Istat, analysed by WineNews. The Veneto region of Prosecco and Amarone, Soave and Lugana, among others, confirmed its position as the driving force behind Italian exports, with a growth of +7.4 million euros, ahead of Tuscany’s Chianti Classico and Brunello di Montalcino, Chianti and Nobile di Montepulciano, Morellino di Scansano and Vernaccia, at +12.2%, for 246 million euros. On the lowest step of the podium is the Piedmont of Barolo and Barbaresco, Barbara d’Asti and Nizza, Gavi and Asti, Alta Langa and Roero, substantially stable, at +1.4%, for 235 million euros. Growth also for Emilia Romagna, Sicily, Puglia, Marche and Friuli Venezia Giulia, among others. |
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50 million euros: this is the budget that will be available to wine producers for the distillation of generic wines, aimed at disposing of some stocks that risk remaining in the cellar due to the impact of Covid. Resources which, it is worth pointing out, are not additional to what is already provided for in the National Support Plan, but which come from what could not or could not be spent by other measures such as promotion, restructuring and so on. In any case, it is precisely in these hours that the green light has arrived from the State Regions Conference to the decree of Agricultural Policies. |
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