Allegrini 2018

US duties, Italian wine is also affected: data from the Nomisma Wine Monitor

In December 2019 the wine of the Belpaese lost 7% in value over the same period of 2018, with still wines at -12%. France down by 36%
ITALIAN WINE, Us duties, News
US duties, repercussions also for Italian wine

It seemed that Italy was the big one excluded from US duties, the tariffs imposed by Trump’s administration that affected products from the European Union, and that made the food and wine sector tremble, especially the winemakers of Spain, France, Germany and the United Kingdom. And, on the other hand, the figures coming from the USA are far from positive, also for Italy: the data from the Osservatorio Vinitaly-Nomisma Wine Monitor, which has drawn up the new US customs figures for 12 months of 2019, which would show how the trade war between the United States and Europe has created a series of negative dynamics in recent months, and that it was also Italy which, in December, lost 7% in value compared to the same period last year, with -12% for its still wines. In this vicious circuit, the EU producers are marking the pace, with France which, in the last 2 months, has seen its still wines fall to -36% and Spain to -9%. On the other hand, supplies from the New World are flying, with New Zealand rising to +40% in value and Chile to +53%.
“What emerges - explains the head of the Osservatorio Vinitaly - Nomisma Wine Monitor, Denis Pantini - is a scenario of strong uncertainty in the main world markets of wine demand, and this is a key factor to be faced this year. The United States is delivering us a market that in 2019 has increased in global imports - probably even more than the real growth in consumption - due to an increase in stocks for precautionary purposes. Italy is also closing with a growth rate, although it continues to maintain a lower than average price for still wines, and with a strong driving force behind sparkling wines”.
And it should be remembered that the United States is one of the key markets for the wine sector, given that, only in 2019, the U.S. imported wine for a total value of 5.55 billion euros, up 5.7% over the previous year, thanks to the rise in demand for sparkling wines (+11.1%). Among the main suppliers, it is still head to head between France, at 1.92 billion euros (+7.7%), and Italy (+4.2%) at 1.75 billion euros, while New Zealand’s performance in the 12 months of 2019 is also excellent (+11.9).
“We are witnessing a confused market - said VeronaFiere’s Director General, Giovanni Mantovani - marked first by a race for stocks and then by great uncertainties. A climate that certainly does not benefit trade, which has so far been very positive, and which we hope will change as soon as possible. For this reason, we are confident in today’s mission in the USA by the Commissioner for Trade, Phil Hogan, and in the optimism represented in these days by the Commissioner for the Economy, Paolo Gentiloni. The hope is to be able to arrive at the next Vinitaly in a renewed regime of trade peace with our historic partner”.

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