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Issue 634 - June 19th - 23rd 2023 - Expressly created for 4.546 wine lovers,
professionals and opinion leaders from all over the world |
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Acquisitions, mergers and ownership changes in the Italian wine world continue, at a rapid pace: Tenute Capaldo, an independent family group owned and managed by the Capaldo family, and led by Antonio Capaldo, which includes Feudi di San Gregorio, one of the most important southern Italian wineries, in Campania, as well as Basilisco, an iconic winery in Vulture, and Campo alle Comete, in Bolgheri, is growing again with the acquisition of an iconic southern Italian winery, namely Galardi, which produces the iconic Terra di Lavoro wine (and at whose helm Allegra Selvaggi, from the founding family, will remain). |
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Italy’s agrifood districts continue to grow in exports, with wine leading the way. And while the absolute top district in terms of value remains the Langhe Roero and Monferrato wine district, with 2.09 billion euros exported in 2022, a growth over 2021 of 3.9%, out of a wine total of more than 6.6 billion euros (+9.4%), followed, remaining in the wine sector, by the Veronese wine district, with 1.2 billion euros (+6.7%), the greatest contribution to the overall growth in values, with a total of 570 million euros more on 2021, comes from the Prosecco district of Conegliano-Valdobbiadene, with exports of 1.03 billion euros (+25.3%), but very good performance is also shown by the Florentine and Sienese Hills Wines district, which touched 912 million euros (+11.6%). This emerges from the Monitor of Italian Agrifood Districts as of December 31, 2022, edited by Intesa Sanpaolo’s Research and Studies Department. According to which the districts’ exports exceeded significantly €25 billion (25.7), an increase of 12.8%, and an overall growth, therefore, slightly lower than the +15.3% of the national total, of which the districts account for 44% in terms of exported values. Tractive was the processed food sector, which grew by 17.7% in 2022, compared with a foreign price index of +13.1% compared to 2021 in the same period. At the overall level of districts, Piedmont leads the ranking, not only with that of wines, No. 1 overall, but also with that of Desserts of Alba and Cuneo, at No. 2, with a value of 1.7 billion euros, ahead of that of Food of Parma (1.4 billion euros) and that of Preserves of Nocera (1.3), in the top 5, just ahead, as mentioned, of that of Wines of the Veronese, at No. 6. And if wine as a supply chain is the most valuable, weighing 26% of the total in value, it is followed by pasta, with 4.4 billion (+19.3%). Among destination markets, Germany is again the top buyer for agri-food districts in 2022, with a total of 4.6 billion (+8.7%), ahead of the United States, with more than 3.2 billion, and France with 2.9 billion. |
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The fine wine market, in May, continues to show decidedly negative signs, with the Liv-ex 100, the index that analyzes the price trends of the 100 most sought-after wines on the secondary market, losing 2% on May 2022 and 3.3% since the beginning of the year. Broadening the analysis to the Fine Wine 1000, the trend is even worse, down -2.4% in May and -4.8% since the beginning of 2023. Also on the negative side is the Bordeaux 500, down -1.3% in May and -2% since the beginning of the year. Negative performance also for the Italy 100, which, however, limits the damage, down -0.6% in May and -2.1% since the beginning of the year. Returning to the Liv-ex 100, as many as 79 labels marked a decline, and just 21 saw their prices rise (in more detail). |
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Marchesi Antinori is one of the few names that can boast more than six hundred years as vintners and more than six hundred years as patrons of the fine arts. Their story begins at Palazzo Antinori in Florence, a symbol of the Renaissance, designed by the architect Giuliano da Maiano, a pupil of Brunelleschi, during Lorenzo the Magnificent’s era, who advocated its acquisition, in 1506, to Niccolò di Tommaso Antinori, initiator of the family “fortune”, and patron of masterpieces such as the Lunette of the “Resurrection of Christ” by Giovanni della Robbia. Ghirlandaio, on the other hand, is responsible for the “Last Supper”, a treasure of Italian art in Badia a Passignano, founded before the year 1000. Their link to modern art are the paintings of the Macchiaioli, such as those of the painter Egisto Ferroni, kept in Bolgheri, all the way up to Antinori in the Chianti Classico, the “Palace of the New Millennium” and the most beautiful winery in the world, designed by archistar Marco Casamonti. It is here that Marchesi Antinori’s centuries-old collecting tradition is continuing through contemporary art, thanks to the “Antinori Art Project”, which unveiled “The Maiden of the West, 2023”, a new commissioned work from Italian artist Elisabetta Benassi that enriches the family’s collection, exhibited in the signature winery (in more detail).
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Wine is the flagship sector of Italian agribusiness. The most valuable. And it is confirmed, also the most “controlled”, as it emerges from the Icqrf’s 2022 activity report, which points out that, of more than 56,505 anti-fraud controls - of which 44,821 were inspections and 11,684 analytical - more than a third, 19,099 controls involved the wine sector. The percentage of operators with some irregularities, in the wine sector was 19.6%, that of products 13.4%, including irregularities in labeling (in more detail). |
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Verdicchio dei Castelli di Jesi (Doc and Docg), Verdicchio di Matelica (Doc and Docg), Rosso Conero (Doc and Docg), Vernaccia di Serrapetrona (Docg), Bianchello del Metauro, Colli Maceratesi, Colli Pesaresi, Esino, I Terreni di San Severino, Lacrima di Morro d’Alba, Pergola, San Ginesio and Serrapetrona: these are “the magnificent 16” PDO wines of Le Marche, including the territories of the small and large denominations of the Istituto Marchigiano Tutela Vini (Imt) led by Michele Bernetti, amounting to more than 7,500 hectares of vineyards for a 2022 production of 230,000 bottled hectoliters. A “little treasure” on which, from 2010 to 2022, the maxi-Consortium and the companies have invested more than 28 million euros of EU contributions, and which, in the last 5 years, has grown exports by +33% to 76 million. |
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Chianti, the largest red wine appellation in Italy, has decided to reduce yields by 10% for the 2023 grape harvest, “necessary”, according to Consortium President Giovanni Busi, “to keep wine from increasing in warehouses. We are at -14% sales 2022 over 2021, and in the price-cost ratio inflation creates a heavy imbalance. The drop in 2022 sales is accompanied by a 2022 vintage that saw production rise by 20%, with the increase in warehouse stocks and a frenzy in the market that caused prices to fall below production costs”. |
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