Home » Positive signs from wineries: stocks are starting to decline

Positive signs from wineries: stocks are starting to decline

by admin

First rebound tests for Italian wine, after more than a year in strong tension: according to data from the Italian Wine Union Observatory, stocks have fallen considerably as of April 30, with stocks in the cellar that despite a richer harvest (+ 3.2%) are getting closer and closer to the quantities of the same period of 2020, at + 1.5%, while last month they were at + 3.6%. On the export front, moreover, with the first reopenings, the loss in value of the previous months in the USA is attenuating, which was mainly due to the rush to stocks at the beginning of 2020 in view of the carousel of additional duties.

Italian sparkling wines are restarting with destination United States (+ 11%). China is also doing well, where a market chasm has opened up due to the super-duties imposed on Australia: this time, in addition to France (+ 47.7%), this time is also Italy, which is close to a 17% increase. For the UIV secretary general, Paolo Castelletti, «the market dynamics seem to go in the expected and desired direction. This does not mean that companies, in order to recover from the 3 billion euros lost in 2020 and from around 500 million euros of problem loans, must be accompanied in this first phase by adequate fiscal and financial instruments that we await in the upcoming Sostegni bis Decree. The evolution of the market – added Castelletti – will go hand in hand with the openings and the sector today needs promotion and liquidity, not to destroy its own product. In the medium term, then, the game will be played on the yields of common wines. Uiv asks that a ceiling be put in place, in order to avoid uncontrolled overproduction phenomena ».

See also  UBS formalizes the acquisition of Credit Suisse. Former employees on a leash

Loading…

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy