Another slowdown for Italian wine outside the EU, but certainly not dramatic for the race of our nectar in the 2024 rally. Because exports to third countries in the first half of the year are still in positive territory. This was revealed by the Uiv-Vinitaly Observatory, which has elaborated the latest official export data relating to the top 12 countries of demand. Between January and June of this year, the hectoliters of Italian wine exported to non-EU countries reached 4.7 million. A share that, together with a six-month final balance of 2.1 billion euros, confirms a slowdown in the race towards new markets but also highlights how the foreign market is the true driving force of the Italian wine market, in the face of a community demand that has been significantly colder up to now.
A Black June
A very negative June slowed down shipments, recording a -10% in terms of volume and a -7% in terms of value due to the trend variation for sparkling and still and sparkling bottled wines, with a -13.5% in quantities for the latter. A result that was far from unexpected, given the old forecasts of the Uiv Observatory. In particular, compared to the first 5 months of 2024, the total volume of the semester went from +10% in May to +6.3% in the middle of the year, while in value it went from +7.3% to +4.7%.
It is worth remembering that last March, wine sales abroad had suffered a setback, with the main reference markets in the negative, such as Germany, the United Kingdom, Switzerland and France, but with a exploit by the Russian Federation while waiting for the excise duty effect that had guaranteed the increase in exported volumes. An early rush to stockpiles, which served as a lifesaver for the first three months of the year but was interrupted, as expected, by the new 20% duties applied since August on wine imports from countries perceived as hostile, including the United States and European countries.
Südtiroler Sekt Alto Adige metodo classico – photo by the Alto Adige sparkling wine association
Sparkling wines in decline
The blame for the decline in orders for Italian still and sparkling bottled wines in the last month in all the top 12 countries of non-EU demand, with the exception of South Korea, Mexico and Australia, is the result, which thus closed the semester by halving the volume growth recorded just 30 days earlier (+4.4% compared to +8.5%), with values falling from +6% to +3.5%. The very positive trend of sparkling wines is contracting, but less marked, with exported volumes going from +18% to +14.5%, with values from +12.3% to +9.3%. The overall average price for the semester stands at a trend of -1.5%.
In addition to the predictable nosedive purchases of Russia (-25%) and Japan (-10%), in June the Observatory notes slowing volume performances in particular for the United Kingdom (-15%), Switzerland (-12%), Canada (-18%) and China (-12.5%). Signs of fatigue also from the USA (-4.8%, with +1% in value), which remain positive despite a sustained but less evident growth in sparkling wines (from +4.5% in May to +2.9% in June). Overseas, in fact, the gap between demand for still and sparkling bottled wines (-9% in volume the trend for the month of June) and that for sparkling wines (+5%) has widened.
This article is originally published on gamberorosso.it
