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RUSSIA-UKRAINE

The war is jeopardizing important Italian wine markets, while scheduled events have been changed

“Vinitaly Roadshow Russia” has been canceled and the “50 Best” moved from Moscow to London. UIV: “375 million US dollars in exports at risk”
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The war is jeopardizing important Italian wine markets. And events have been canceled

The “Vinitaly Roadshow Russia” (which would have been held in Moscow on March 3, 2022), has naturally been canceled. However, even the award ceremony for “The World’s 50 Best Restaurants”, the ranking of the best restaurants in the world (which should have taken place in Moscow, in July 2022), has been moved to London, as the organizers wrote on Twitter. The consequences of the Russia - Ukraine war have been felt in the current situation and even symbolic decisions (such as the final UEFA Champions League game moved from Moscow to Paris, or Russia being excluded from the very popular Eurovision Song Contest, to be held in Turin in May 2022, ed.). The effects of the war, in constant evolution, is also being felt on the calendar of events related to wine & food, on the Russian markets, of course, but not only. As many people have pointed out, and as the Unione Italiana Vini (UIV) evaluation has also confirmed.
“We are forced to give up a strategic location for Italy, the first wine supplier country in Russia”, Paolo Castelletti the UIV secretary general, said, “precisely in the middle of a phase where there is a high increase in orders. While we are waiting to shed light on the hypothesis of halting exports, we advise Italian wine companies to make deliveries to Russia only after having obtained adequate guarantees on payments”. Payments are becoming more and more complicated hour by hour, while the European Union should be getting the okay to exclude Russia from the International Swift payment system. And, several governments (including Italy) are advising their citizens on Russian soil to return to their country as soon as possible. The Italian Ministry of Foreign Affairs, on the “Viaggiare Sicuri” portal, has advised, “compatriots in the country on a temporary basis (tourists, students, people on business trips, etc.), are strongly recommended to organize a prompt return to Italy using the commercial means still available as well as to find out about health requirements for transit to foreign countries on this site and on the sites of the diplomatic-consular network. In this context, it is also recommended to postpone all trips to the Russian Federation”.
According to the UIV-Vinitaly Observatory analysis (on Customs data), in 2021 alone, orders from Russia registered a value of 375 million US dollars, up 11% compared to the previous year, on a total 1.155 billion US dollars of wine imports from abroad. Italy, the leading supplier country, boasting a market share of 30% ahead of France and Spain, registered a boom in demand for sparkling wines (25%) in 2021, and + 2% increase for bottled stills. the most popular denominations in Moscow are Prosecco, Lambrusco and Asti spumante, in addition to Tuscan, Sicilian, Piedmont and Veneto PDO wines. Ukraine, where Italy is the market leader, in the first 9 months of 2021, registered + 20% of Italian wine imports of still and sparkling wines in the bottle, and + 78% for sparkling wines. Therefore, the damage is palpable and will be direct, also for wine. Not to mention the indirect damage caused by the ruble collapsing and energy prices skyrocketing.

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