Update problematische situatie van de Italiaanse wijnbouw
Geplaatst op: 13-05-2020 om 08:38:46
| Karina Imschoot
Covid-19 effect on Italian wineries, with cantinas struggling to free up space for new wines In the first 2 weeks of April recorded a decline of -50% compared to the same period last year: 950,000 hectoliters of wine against nearly 1.95 million hectoliters
Thus, by the end of April 2020, stocks in canteens reached the same levels as in 2019 (-2% of the total, +1.5% for PDO wines), despite the fact that the last harvest was 19% lower than in 2018.
But that is not all: the situation is complex because the delay will continue, and the current situation does not yet take into account the many effects of the emergency that will be felt in the coming months.
These include stocks held by distributors and importers, outstanding agreements and non-payments, but also the impact of events such as ProWein and Vinitaly and thus the possibility of increasing sales.
Of the 52 million hectolitres held in stock, the quantities of ordinary wines disposed of so far (-12% in stock compared to the previous year) are rewarding, while stocks of PDO wines (+1.5%) and IGT wines (+0.5%), which make up more than 3/4 of the product Made in Italy, are already higher than in 2019. A fact that says a lot about the lockdown of the hospitality industry and exposes the value of quality wines to the risk of speculation on the eve of the next harvest.
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