If this message is not displayed correctly click here
|
Issue 467 - April 6th - 10th 2020 - Expressly created for 11.897 wine lovers,
professionals and opinion leaders from all over the world |
|
|
|
|
|
|
The impact of the Coronavirus is also evident in fine wines, with the Liv-Ex indexes accelerating a downward race already seen throughout 2019 and in the first weeks of 2020. Since the beginning of the year, with data closed on 31 March 2020, the Liv-Ex 100, the platform’s benchmark index, has been down 1%, with the Liv-Ex 1000 at -2.6%. The only one still in positive territory, albeit a very small 0.59%, is Italy 100, an index dedicated to the best labels of the Belpaese (the “triptych” of Antinori formed by Solaia, Tignanello and Guado al Tasso, Sassicaia, Masseto, Ornellaia, the labels of Gaja and Barolo Monfortino Riserva by Giacomo Conterno). |
|
|
|
|
The forced quarantine of Italians, restaurants and coffee bars closed, also change the wine consumption of Italians. They grow up among the domestic walls, between the desire, perhaps, to enjoy a little pleasure even in difficult times, but always with moderation and attention to health. And if still wines grow significantly, also as a result of the recovery of a meal that many Italians used to eat out for work, such as lunch, on the other hand, sparkling wines, with the loss of moments of socializing, toasts and aperitifs, are the ones that seem to suffer the most today. It emerges from an analysis of WineNews, based on data from Iri, which monitored wine sales in organized distribution. Overall, since February 23, 2020, wine sales have grown by 5.8% over the same period in 2019, with a significant acceleration in the last weeks of March, with peaks of 12% in that from March 22. The growth was mainly driven by PDO wines, with +7.5% (and +9.8% in the last week), a sign that we are trying not to give up quality, but also ordinary wine, at +5.8% (and +14.3% in the last week), which also means important attention to price, especially in a very difficult economic moment for many families. The category that performs worse, as said, is that of sparkling wines, which, in the period, grew by a modest 2.6%, but in recent weeks marks a double-digit drop (-14.8% in the last week). The dynamics linked to wine as a whole is clear,” Virgilio Romano, Business Insights Director at Iri, told WineNews, “while it takes more time to understand the dynamics linked to sparkling wines, and we must also consider that the great growth in sparkling wines recorded in the first few months of 2019 was supported by a strong promotional component, which in 2020 to date has disappeared.” An overall growth, however, which, it should be noted, obviously does not compensate for the losses of the business that the wineries develop in the on-trade channel, which is the one with the greatest added value, and even less in exports. But, in any case, a positive sign, which tells of the Italians’ desire to enjoy a good glass of wine that, at least for now, the COVID-19 crisis has not hindered. |
|
|
|
|
The great international and territorial events related to wine (but not only), continue to be canceled. Because the COVID emergency is planetary, and if in China people try to start again between a thousand difficulties and restrictions, and in Italy we see some first positive signs, in many other countries, from the U.S. to the United Kingdom, many internal problems are growing rapidly, in a pandemic that will be solved only when it will be solved at a global level. With timeframes that will, of course, be very long. The wine sector, like many others (even more powerful from an economic point of view, such as the car sector, which has already canceled the major events of the year), should consider the idea of a 2020 “sabbatical” tout-court and a 2021, hopefully, of a great relaunch. |
|
|
|
|
|
The coronavirus crisis, as expected and predictable, beats hard on everyone, even on the wine shops of Italy. According to a recent survey by Vinarius, the association of wine shops in the Belpaese, extended also to non-associated realities, the overall picture that emerges is that of a drop in turnover between 50% and 80% since the beginning of emergencies. This is said by the sample of 105 bars throughout Italy, surveyed by the organization led by Andrea Terraneo, who also tells how the wine shops are facing this very difficult period. 22% of the wine shops, explains the survey, have decided to remain closed, and 25% to remain closed but to make home deliveries. “The remaining 53% who finally decided to stay open and make home deliveries, shows how wine shops have become, at this time of uncertainty, points of reference for the territory for the supply of necessities such as water, pasta, and other food”. In any case, the situation is very complicated. And this is also why Vinarius wrote to the Minister of Economic Development, Patuanelli. “Not so much to ask for massive economic aid - Vinarius points out - but to ask to participate in the consultation tables that the Ministry will set up to restart the economic activities of the country”. |
|
|
|
|
|
Prosecco di Conegliano and Valdobbiadene have taken yet another step forward on the road to sustainability. The Consortium presented Wine Protocol, edition number 10, a document, which year after year, proposes and promotes an increasingly praiseworthy system of vineyard management through integrated vine defense, and is confirmation of the Consortium’s continued commitment towards increasingly sustainable agriculture. While looking to innovation and a future of good practices, in the study of the territory conducted together with Fondazione Symbola. |
|
|
|
|
Green harvesting, reduction of yields, harvest reserve, distillation, but to be calibrated differently on each denomination. And not only: there are many ideas in the Piedmont wine sector, one of the most important regions in Italy, which, like everyone else, is facing the Coronavirus crisis. “In an ongoing work in progress, together with the agricultural organizations and the Region, so as not to leave anyone behind”, Filippo Mobrici, president of Piemonte Land, which brings together all the Piedmontese wine Consortia, comments to WineNews, where ideas and proposals are examined. Like the one that came from the Consorzio del Roero and married by all, to use the Ocm Promozione funds that could not be spent, to strengthen storage, with rent or purchase of facilities and tools, to make room for the next harvest, and not see a rush to sell off the wine. |
|
|
|
|
On March 31, 2020, there were 54 million hectoliters of wine in Italian wineries, 5.9 million hectoliters of must and over 260,000 hectoliters of new wine still in fermentation. According to the latest report of the Ministry of Agriculture “Cantina Italia”. 57.5% of wine is physically held in the Northern Regions. In the wineries of Veneto there are 13.3 million hectoliters, in Emilia Romagna 6.3 million, in Tuscany 5.7 and in Puglia 5.6. Among the designations, the largest stocks are those of Prosecco with 3.7 million hectoliters (8.9% of the total). |
|
|
|
|
