Allegrini 2018

Wine: bulk prices of the main Italian denominations are stable (and growing)

In view of the 2021 harvest, WineNews analyzed prices from the Chambers of Commerce, which show a positive dynamic
Wine: bulk prices of the main Italian denominations are stable (and growing)

Recovery of the market is sensitive, threatened by a resurge of the Pandemic, and new restrictions to fight it, while at the same time, the 2021 harvest is getting closer and closer. These considerations are filling up Italian wine this summer, in view of the near future that we are trying to look at optimistically, though it is still under the banner of uncertainty. There is comforting news, though. The price lists published by the various Chambers of Commerce, which WineNews analyzed, revealed that the most recently updated prices of "bulk" wine of some of the main Italian wine denominations is substantially stable, and in a few cases, even growing. We of course are talking about rough numbers, net of VAT and ex-winery, which show an average on the wine market. But, we must remember that in the real negotiation phase, the difference is made up by many factors, like the origin of the batch of wine, quantity, the different needs of those who sell and buy, and supply and demand. In any event, compared to the most recent summary report at the end of April 2021, there are no big jumps, and they are also almost all upwards. Even table wines seem to have somewhat reversed the downward trend. According to ISMEA data, the prices of whites, in June, were around 3.61 euros per hectoliter, up +4% compared to the same period in 2020, while the reds are not doing well, at 4.12 euros, still down -3.3%.
Looking at the denominations, starting from Piedmont, according to the latest surveys of the Chamber of Commerce of Cuneo, referring to the two-month period May-June, Barolo is growing, while the 2016 vintage is fluctuating between 631 and 718 euros per hectoliter, and the 2017 vintage from 631.5 to 727.2. Barbaresco prices are between 420 and 454 euros per hectoliter for the 2017 harvest, and between 476 and 490 for 2018. Nebbiolo d'Alba is clearly growing, as vintage 2019 prices are between 221 and 255 euros per hectoliter, while Langhe Nebbiolo prices are between 218 and 232 euros for 2019 and 200 and 220 euros for 2020. According to the Chamber of Commerce of Alessandria, prices of Gavi are between 200 and 280 euros, while according to that of Asti, prices of Barbera d'Asti Superiore are stable, between 160 and 270 euros, and those of Nizza are between 250 and 350 for the 2018 vintage).
The situation is positive in Tuscany, too, according to the Siena Chamber of Commerce’s most recent survey. The most constant prices (also at the National level) remain those of Brunello di Montalcino, as the great vintages 2015 and 2016 (practically impossible to find) are getting prices between 850 and 1.000 euros per hectoliter, while the prices of the 2017 vintage released in January 2022, are between 800 and 900 euros. Rosso di Montalcino prices are also quite interesting, as the 2018 vintage is between 400 and 500 euros per hectoliter, and the 2019 between 350 and 400 euros. Chianti Classico prices are between 255 and 310 euros per hectoliter for vintages 2019 and 2020, and between 270 and 315 for 2016 and 2017, Chianti is holding well, ranging between 128 and 160 euros for 2017, and between 125 and 150 euros for the 2018, 2019 and 2020 vintages. Nobile di Montepulciano is stable, between 330 and 380 euros per hectoliter for the 2016, 2017 and 2018 vintages. Among the whites, Vernaccia di San Gimignano ranges between 130 and 150 euros per hectoliter for the 2020 production, and 135 to 155 euros for 2019, the same values as a few months ago.
Veneto is also showing great signs. According to the Chamber of Commerce of Verona, the prices of Amarone and Recioto rose slightly, from 800 to 850 euros per hectoliter for the "basic" version and from 830 to 880 for the classic version, both for vintage 2017 and for 2018. Valpolicella DOC for Ripasso has grown slightly- between 280 and 300 euros for the 2019 vintage, as has Valpolicella Doc Classico, between 160 and 200 euros, while Soave Classico is stable between 100 to 115 euros per hectoliter. Pinot Grigio delle Venezie prices are between 95 and 105, and Lugana’s prices have grown, 260 to 300 euros per hectoliter. The Prosecco system prices are also growing slightly. According to the Treviso Chamber of Commerce, Prosecco DOC prices are between 160 and 170 euros per hectoliter, Asolo between 190 and 200, while Conegliano Valdobbiadene Prosecco Superiore DOCG between 205 and 215 euros per hectoliter. These numbers are to be considered signals and nothing more. But, they do narrate, at least in some territories and denominations, a substantial stability of values, which gives us hope for a full recovery in consumption and the wine market.

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