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Issue 694 - August 12th - 16th 2024 - Expressly created for 4829 wine lovers,
professionals and opinion leaders from all over the world | |
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| | | Lugana, a historic Italian white wine appellation “overlooking” the beautiful scenery of Lake Garda, which in recent years has experienced significant growth in production, sales and positioning of its bottles, is among the world’s 7 emerging wine territories, according to the U.S. magazine “Wine Enthusiast”, which places it on the podium along with Crete, New Jersey and Texas Hill Country (in the U.S.), Uco Valley (in Argentina), Uruguay and Armenia. All wine regions that are undergoing a profound transformation, and destined to become “mainstream”, both for their great bottles and as a destination for wine and food tourism.
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| | On the latest WineNews analysis, as of April 2024, bulk prices of the main appellations seem to be holding up, at least in the three major Italian wine regions of Veneto, Piedmont and Tuscany, which weigh more than half of the value for production and exports, according to the most up-to-date lists from the Chambers of Commerce, but also for ordinary wines, according to Ismea. Amarone della Valpolicella, stable in values, and Bolgheri, in very slight retreat, remain the most valuable wines, surpassing 1,100 euros per hectoliter, with the highest quotations, while among the top in value give up something Barolo and Brunello di Montalcino, although they remain with the highs around “quota 1,000” with the latest vintages on the market. Barolo 2020, which came on the market this year, moves, between 851 and 879 euros per hectolitre, while the 2019 vintage still ticks figures between 911 and 990 euros, while Barbaresco between 700 and 709 euros for the 2020 vintage, and between 651 and 804 euros for the 2021 vintage, with a significant range between minimum and maximum. Going down to Tuscany, the most valuable appellation of the moment remains Bolgheri, albeit with a slight drop on April 2024: according to new surveys by the Maremma and Tyrrhenian Chamber of Commerce, Bolgheri Doc fluctuates between 900 and 950 euros per hectolitre, and Bolgheri Superiore between 1,000 and 1,100. According to the Chamber of Commerce of Siena, as of August 7, 2024, Brunello is stable on April, from 850 to 1,000 euros per hectolitre, for the 2019 vintage on the market, and between 850 and 950 for 2020, which will be next on the market, from 2025, while it falls, as of today, for vintages resting in the cellar as per the regulations (thus still wine “fit” to become Brunello), from the 680 euros minimum of the 2023 production to the 900 maximum of 2021. In Veneto, on the other hand, from the Verona Chamber of Commerce lists, Amarone and Recioto della Valpolicella 2021 remain stable between 1,050 and 1,100 euros, rising to 1,100-1,150 for the Classica zone, and, on the Prosecco Docg front, in the Treviso Chamber of Commerce’s list as of July 30, 2024, if Cartizze (which, in April, was moving between 700 and 750 euros per hectolitre) does not make a price, Rive’s quotations drop slightly, but remain notable, between 260 and 280 euros per hectolitre (in more detail).
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| | The wine market must take into account various dynamics, especially at this particular moment in history, where major concerns include factors such as price instability, oversupply and falling demand. Not to mention the change in consumption. This is no small challenge for wine “players”, and one that “invites” them not to be passively subjected to the market, but, rather, to be increasingly proactive by charting new paths and entering contexts that, perhaps, in the past were less traveled. Indeed, there is no shortage of examples of merchants around the world, in the European Union, from the Uk to Italy, as well as in the United States and beyond, who are successfully meeting the challenge by finding new ways to market. This is demonstrated by a recent study conducted among Liv-Ex members (in more detail).
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| | | The week of Ferragosto (August bank holiday), for the wine world, not all, but still a significant part, is harvest time, due also to the weather phenomena that affect significantly. And the first district to enter the harvest in an organic and massive way, is that of Franciacorta, a territory that should be counted among the “bigs” of Italy, and excellence of Metodo Classico sparkling wines. But what kind of harvest will it be? The Franciacorta Consortium speaks of expectations, for the 2024 vintage, which are outlined in a fairly good climatic context. “We are excited to announce the start of the harvest”, stresses Consortium President Silvano Brescianini, “the weather conditions this year have been complex, but the winemakers have been able to deal with them with great experience, and we are confident that the quality of the grapes will be interesting. The producers have worked with dedication and care, and the results will certainly live up to expectations. This harvest represents a crucial moment not only for our production, but also for the enhancement of our land and traditions”. Currently, the production load is average, the health status is good, and the harvest is expected to continue until the end of August (in more detail).
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| | | Sustainability as the pole star; winery hospitality as a universal practice; export propensity as the high road; and Sangiovese as the mainstay of the ampelographic base. These are the four “cardinal points” of the Consorzio Vini Montecucco, which has surveyed the state of the art of wineries in its six municipalities, and is also thinking of expanding the territory to mountain areas, to make vineyards “go up” in response to climate change.
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| | He made his fortune selling flatbreads made in Florence and creating a format exported around the world: now Tommaso Mazzanti, owner of Antico Vinaio, becomes a winemaker with Joe Bastianich (with whom he opened overseas stores in New York). Mazzanti has joined the management of Tenuta La Mozza, in Maremma, already owned by the Italian-American entrepreneur. A new line of wines intended to be sold in all of its stores will be produced here. Tenuta La Mozza, in Magliano, Tuscany, has 20 hectares of vineyards, including Morellino di Scansano, Sangiovese and Ciliegiolo. Production is around 100,000 bottles, and now the goal is this new line for the Antico Vinaio premises, including those yet to be opened. The Antico Vinaio has more than 30 venues in Italy and around the world (including Florence, Rome, Milan, Bergamo, Naples, Forte dei Marmi, Dubai, Las Vegas and New York). | |
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| | Wine production is something that has no boundaries; vineyards provide employment and generate an ancillary industry for other activities as well. But individually, for each citizen, how much wealth does a vineyard produce? A curious question, answered by data published by the American Association of Wine Economists, according to which New Zealand, among the leading countries on the international wine scene, exports wine worth $253.2 per capita, gaining the leadership in this ranking ahead of France, with a value of $188.2 per capita, and Italy with $142.6 per capita. | |
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