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Issue 465 - March 23rd - 27th 2020 - Expressly created for 11.897 wine lovers,
professionals and opinion leaders from all over the world |
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Italy is growing in one of the emerging wine markets, South Korea, where the U.S. is the leader, but it is starting to face competitors such as Italy, France, Spain, Australia, and Chile. According to a study by Mibd, which surveyed the wine lists of 150 restaurants in the capital, Seoul, the most present Italian denominations on the wine lists are Chianti Classico (n. 5), Igt Toscana (n. 6), Brunello di Montalcino (n. 12) and Barolo (n. 14). Among the individual brands, the first Italian is Antinori (n. 8), followed by Tignanello, again by Antinori (n. 10), Tenuta San Guido (n. 12), Castello Banfi (n. 13) and Gaja (n. 15). |
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Coronavirus emergency is a health emergency, with hundreds of deaths every day. It is hard to know how long it will last. Nevertheless, we also think of the economy, made up of programming, and business events, which we try keep on the calendar, the “calendar of hope”, likely to change at any moment. Vinitaly demonstrates this, with the cancellation of the 2020 edition and with the appointment to 2021 (in Verona, from 18 to 21 April, and with OperaWine on 17 April, ed.). A forced stop, that of the most important business support and promotion platform for Italian wine, which has pushed VeronaFiere to look beyond. With investments on events abroad in the coming months, namely Vinitaly Chengdu, Vinitaly China Road Show, Wine South America (23-25 September 2020), Vinitaly Russia (26 and 28 October 2020), Vinitaly Hong Kong (5-7 November 2020), Wine To Asia (9-11 November 2020) and the initiatives of the Vinitaly International Academy (Via). And, perhaps, with an autumn event in Italy too, hoping to celebrate the end of the emergency and the relaunch of the country also through wine, as proposed by the Veronafiere dg Giovanni Mantovani: “we are making ourselves available to the sector and the promotion system to consider the creation of an innovative event next autumn at the service of companies. In a post-emergency for us, it is called rebirth. The idea, to which the main associations of the sector have expressed full availability in the last meeting (23 March), is to cross our know-how with the proposals of the sector in the function of an event to be planned for autumn 2020, emergency permitting. We could be the collector of an initiative still to be built and which, I would like to stress, does not want to be a business for VeronaFiere. The watchwords of the rebirth, for the sector but not only, will have to be business and communication: this is what producers want - underlines Mantovani - this is what the market will want, this is the job that Vinitaly and VeronaFiere know how to do”. Meanwhile, also in autumn, the “Milano Wine Week” (3-11 October) and the “Merano Wine Festival” (6-10 November) are confirmed. This was announced by the organizers Federico Gordini and Helmuth Köcher just a few hours after the announcement of the postponement of Vinitaly 2020. |
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Wine stocks in Italian cellars are still going downhill. The latest report of the Ministry of Agriculture “Cantina Italia”, issued on 15 March, revealed there are 56 million hectoliters of wine. On the same date in 2019, the quantity of wines in Italian cellars was 57.5 million hectoliters. These 2019 numbers are also, as WineNews had pointed out, the result of the 2018 vintage, which yielded 16% higher production compared to 2019. At the regional level, there are 13.8 million hectoliters in the Veneto Region wineries, 6.6 million in Emilia Romagna, 5.9 million in Puglia and 5.8 million hectoliters in Tuscany. Denomination wines are concerned, the largest stocks are Prosecco totaling 3.8 million hectoliters (8.9% of the total stocks): 1.5 million from Sicilia Doc (3.6%) and Delle Venezie (3.5%); 1.4 from Montepulciano d’Abruzzo (3.4%); 1.3 from Chianti (3.2%). |
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Wine, like many other product chains, has been hit hard in the world crisis linked to coronavirus. Even though the volume in restaurants is just over 30% of the wine consumed in Italy, it is the channel that generates the most in added value, and now they have been closed. However, the wine sector, at least partially, can console itself with the large-scale distribution. Wine, like most other foods has grown significantly in the market baskets of the millions of Italians under forced quarantine. This aspect should not be underestimated, as Italians have been forced to return en masse to eat both lunch and dinner at home, compared to “normal” daily life, when many people would have eaten lunch outside of home. WineNews recently interviewed many wine entrepreneurs who predicted this trend at the beginning of the crisis and today the numbers confirm the trend. The ADM-Association of Modern Distribution and IRI INFOSCAN survey, monitoring 27.000 retail outlets, revealed that wine sales registered a 6.8% jump, in a single week, from March 2nd to 8th, which thanks to PDO wines (+11.9%), more than to wines with no denomination or geographical indication (+3.9%). Among the curiosities, +300% of e-commerce, and -53% of Champagne. |
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Despite the good results of Italian wine exports in 2019 (6.4 billion euros, +3.2% on 2018), 2020 will be negative. It is worth mentioning the in-depth study on regional performance by ISTAT. From data analyzed by WineNews, the trends in Veneto, Piedmont and Tuscany, which together account for almost 70% of the entire wine exports of Italy, with a growth of +3.2% (2.3 billion euros in turnover), 4.2% (1.05 billion) and +4.4% (1.01 billion), respectively are good. Good signs from Friuli Venezia Giulia, Trentino Alto Adige, Lombardy, Lazio, Abruzzo, Valle d’Aosta, Molise and Campania. |
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Officially postponed the “London Wine Fair”, on the calendar from May 18 to 20, which, for weeks, has strongly reiterated its will not to move the dates, in the conviction of overcoming the Covid-19 emergency unscathed, a bit as hoped, with a good dose of cynicism, by Prime Minister Boris Johnson, the last to surrender to the evidence, in a Europe on its knees, where the Italian example, mocked by many in the early days, has soon become the only possible one to follow. There is, for the moment, no alternative date, but the backtrack, in the words of Hannah Tovey, head of the London Wine Fair, is dictated by the same identical obstacles encountered by all the other fairs - postponed or canceled - of wine & food: uncertainty about what will be and the safety of exhibitors and visitors. |
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For a wine lover, these days at home could prove to be a good opportunity to reorganize his personal cellar by planning new stocks. With an eye, perhaps, to the best value for money, a requirement as much coveted as difficult to find. Maybe, with the advice of specialized portals like Wine-Lister, that has drawn up the list of the best Italian wines going to look for the “best of” in the ratio between quality and price of a. At the top of the ranking we find the “Flaccianello della Pieve” 2004 produced by Fontodi. |
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