The Japan/ EU trade agreement has relaunched Italian wine exports

The trade agreement between the EU and Japan that went into effect this past February is beginning to bear fruit, and Italian wine is also enjoying it. In fact, data from Japanese customs, analyzed by Nomisma - Wine Monitor, have revealed the growth trend value in the first quarter of this year at 3.4%. Thus, Italy has become the second largest wine supplier in Japan, after France, which thanks also to Champagne dominates the quarter at +12.3% in value and has an enormous market share (55%). The indicators linked to the average price of the Italian product were also very good and growing, at 4.12 euros per liter. Looking at the other countries, all the major non-EU competitors (Chile, USA and Australia) are losing, while Spain (+20%) is rising noticeably, benefiting from a partnership that provides for the progressive elimination of duties on wine, an item that until a few months ago weighed about 15%.
Valpolicella wines are focusing totally on Japan, since they have rediscovered it is an attractive market, especially considering China's slowdown. Valpolicella wines will be the stars of two master classes to be held in Tokyo on June 6th, emphasizing wines from 12 local companies, led by the “Valpolicella Wine Specialist”, Irving So. Japan has been one of the most interesting strategic markets for our territory for quite some time”, explained the director of the Valpolicella Consortium, Olga Bussinello, “and it is even more so today, because of a bilateral agreement which will increase our market shares in the most culturally mature country in the wine sector in Eastern Asia. The first results of this agreement, according to the findings, indicate Italy has surpassed Chile, which has lost almost 25% of its sales. And, there has been a +7% increase of Made in Italy still bottled wines, compared to a total demand on the segment of -4%. These are positive signs”, concluded Bussinello, “that bode well for a further leap in quality of Veneto's PDO red wines, 70% of which are from Valpolicella that closed out the year 2018 at +14.5%”.