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Issue 642 - August 14th - 18th 2023 - Expressly created for 4.559 wine lovers,
professionals and opinion leaders from all over the world | |
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| | | The negative trend of Liv-ex 100 has not changed. The benchmark index monitoring prices of fine wines on the secondary market, of the 100 most traded wines - including, Bartolo Mascarello’s Barolo 2017, Bruno Giacosa’s Barolo Falletto Vigna Le Rocche Riserva 2016, Gaja’s Barbaresco 2018, Giacomo Conterno’s Barolo Monfortino Riserva 2013 and 2014, Frescobaldi’s Masseto 2018 and 2019 and Ornellaia 2018, Poggio di Sotto’s Brunello di Montalcino 2017, Tenuta San Guido’s Sassicaia 2017, 2018 and 2019, Antinori’s Solaia 2019, Tignanello 2018, 2019 and Tua Rita’s Redigaffi 2019, lost -3.1% in July 2023, causing the negative trend, from the beginning of 2023 -9.1%. | |
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| | The global economic situation has an impact on corporate management in the wine industry, which is already dealing with a difficult 2023 harvest but remains optimistic, as executives of major companies explain to WineNews. “After the post-Covid euphoria, there is more reflection on the part of the markets - for Renzo Cotarella (Antinori) - and a bit of a slowdown, but without great difficulties, at least for premium wines, while it is the less expensive wines that fear a reduction in consumption”. “In the top range we do not see any negative effects yet - observes Giampiero Bertolini (Biondi-Santi) - but from the signals coming from the USA and the UK, we expect a slowdown in the intermediate range”. For Ettore Nicoletto (Angelini Wines & Estates) “we had higher hopes for the on-trade in the internal market, but the weather has impacted tourism and consumption out-of-home. Abroad, we are witnessing strong destocking phenomena, to align with demand. However, we must consider 2023 as a year of consolidation, to prepare for a 2024 recovery”. “Companies with big shoulders are holding up the blow, and even from this harvest they will bring fewer but quality grapes - explains Lamberto Frescobaldi - but we must think of our customers who, even in tourism, move and spend less”. For Marco Caprai “this season should have seen large investments in agriculture, thanks to Pnrr and other measures, but with so many resources available, there is a risk that businesses will not be able to implement them”. “Until now we have worked in a world with low rates, now with high rates, and we need to review the way we act. But it is also a phase in which the price increases have been digested by the system”, explains Alessio Planeta. “2023 has left us with few tools to make investments - says Roberta Corrà (Gruppo Italiano Vini) - however, we must start thinking about promotion in 2024. Optimism is required to restart consumption and provide a boost to businesses”. “We must be extremely cautious not to make mistakes, such as offering wines at rock-bottom prices”, says Hans Terzer (San Michele Appiano). “However - says Marco Nannetti (Cevicho) - we must start from the blockade if not from the reduction of interest rates, to allow families a more constant consumption of wine”. | |
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| | Do not be alarmed, because the global consumption slowdown is obvious, and it is not surprising that Italian wine is suffering as a result. The fears of our wineries are given shape by Istat data, which confirm a sharp slowdown in Italian wine exports in the first five months of 2023, with turnover nearly the same as in the same period in the previous year: 3.08 billion euros (+0.4%). And it’s not much better in terms of volume, coming in at 844 million litres (-1.6%). Few are saved in these first five months of 2023, when reassuring notes arrive from France, Germany, and the United Kingdom, while the United States, for years the locomotive of Italian wine growth in the world, unexpectedly finds itself in negative territory, as do Canada and Japan. | |
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| | | For the fine wine market, it is a time for reflection, both for collectors and wine merchants, with all the major Liv-ex indices negative. Despite of the market's downward tendency, trading activity registered an increase in July 2023, in value and volume. The best performance was a Rhône wine, despite the crash of the regional index: Châteauneuf-du-Pape 2019 Château de Beaucastel Hommage à Jacques Perrin (+8.2%). In second position, Dom Pérignon Rosé 2008 (+6.8%), and in third place Gaja’s Barbaresco 2018, which grew +5.3% in July, even though since the beginning of the year the trend has been less favourable, registering -9% decrease. In fourth place, Frescobaldi’s Ornellaia 2019, which stands out and is an exception among the top performers, because it is the only wine that has not fallen since the beginning of the year, and instead it registered + 6.5% growth, thanks also to the +4.3% growth in July. In fifth position, the king of Burgundy, Domaine de la Romanée-Conti, with Richebourg Grand Cru 2018, marking +4.2% growth in July. | |
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| | | It is always the right season to visit the wine territories. And to draw up its list of the “50 Best Wine Trips” is the famous English magazine “Decanter”. At the top of the suggestions is Tuscany, with its many territories ranging from the hills to the sea, from Chianti Classico to Montepulciano, from Bolgheri to Montalcino, from San Gimignano, from the great Chianti to the small Montecucco, which opens the door to Maremma. Obviously, among the variety of Tuscan wineries, there is also a selection of the 10 must-see of them (in more detail).
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| | To live a “day as Italians”, at least until they are recognized. This continues to be the wish also for VIPs on their Italian vacations. Driven by the travel stories of the famous writers of the past and the painted views of the greatest artists of every era, it is possible to say that the stars’ love for Italy was born before Hollywood. In nourishing the dream of the “dolce vita”, cuisine and wine play an important role. And summer 2023 is no exception, with a real roundup of celebrities on holiday in Italy, from Robert De Niro to Leonardo Di Caprio, from Keanu Reeves to Russel Crowe, from Oliver Stone to Tom Cruise, from Michael Douglas and Catherine Zeta-Jones to regulars like George Clooney and Helen Mirren. | |
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| | Not only Hollywood stars and jet set personalities: among the protagonists of the Venice International Film Festival, edition no. 80, scheduled from 30 August to 9 September, there will also be wines from the Abruzzo brand Masciarelli. The Montepulciano d’Abruzzo Doc Riserva from the “Iskra” line and the Rosso Terre di Chieti Igt from the “Castello di Semivicoli” line will be at the center of the stage events between the Cinematograph Space Ente dello Spettacolo and the Terrazza Cinematografo by Atlas Concorde, in the Hotel Excelsior Venice Lido Resort. | |
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