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Italian wine exports remain in positive territory
Exports in the first half of the year to countries outside of the EU remain in positive territory for Italian wine, according to the latest set of data.
Figures from the Uiv-Vinitaly Observatory (UVO) found that almost 4.7 million hectolitres of wine have been exported between January and June to the value of €2.1 billion.
The news means that non-EU countries have “confirmed their position as the driving force of the market”, the UVO said, in the face of demand which had been “significantly cooler up to now”.
But it did also report there had been a slowdown after a strong start to the year, as predicted by the observatory, with a progressive showdown in the final month of the first half of the year, with a 10% decline in volume and 7% decline in value.
Compared to the first 5 months of 2024, the total volume of the half-year went from 10% in May to a still positive 6.3% by the middle of the year, while in value the figure went from 7.3% to 4.7%.
Decline
While South Korea, Mexico and Australia continued to see demand rising, the other top non-EU countries saw a decline in orders for Italian still and sparkling bottled wines in July, which meant that the period closed with volume growth halving on that which had been reported a month earlier — 4.4% compared to 8,5%, with values falling from 6% to 3.5%.
The positive trend of sparkling wines was contracting as well, 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 period declined by 1.5%.
Russia
In terms of specific countries purchasing Italian wine, Russian exports fell by 25% and Japan by 10%, which had previously registered a significant period of growth in the first four months of the year.
In June, the observatory noted a “significant slowdown” in volume performance, particularly in the UK, where it fell by 15%. In addition, Switzerland declined by 12%, Canada by 18% and China by 12.5%.
For the US market, there was a 4.8% decline, increasing by 1% in value, and remained in positive territory for sparkling wine growing by 4.5% in May and 2.9% in June.
There was also an interesting divergence between the demand for still and sparkling wine, with the former falling by 9% in terms of volume but sparkling growing by 5% in June.
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