Wine Observatory: FQ 2018 exports +4.5%

According to ISTAT, the Italian statistics agency data prepared by the agrifood market services, ISMEA and published by the UIV Wine Observatory, in the period January-March 2018 Italian wine exports grew + 4.5% in value (1.38 billion euros), while instead there was a sharp decline, equal to 9% less in volume, down to 4.5 million hectoliters. The reason for this collapse in export volumes is the 32.6% decrease shown in sales of table wines, which in 2017 suffered a decline in production and a consequent increase in prices, following the difficulties of the last grape harvest. These results are causing quite a bit of concern, which however is somewhat alleviated by sparkling wines’ numbers that are still driving the sector, and on the whole grew +2.8% in volume and +14.6% in value. The dynamics of PDO and PGI wines, on the other hand, are completely different. The former, in the wake of a downfall in production, registered +12.2% growth in volume and + 10.4% in value, while the latter registered a decline of 12.8% less in volume and 6.5% less in value. According to the president of UIV, Ernesto Abbona, this growth is insufficient and has been “slowed down due to the high price hikes linked to the scarce harvest and the delay the Ministry has accumulated for providing the CMO Promotion funds. The situation is even more challenging because of geopolitical dynamics, which do not help the growth of the industry”.