The European Commission has released latest estimates on the production of wine and must for 2018, confirming the vintage forecasts of the UIV-ISMEA Italian Wine Observatory. Presented at the Italian Ministry for Agriculture in early September, predictions show that Italy will be the largest producer in the world with 49.5 million hectoliters, growing by 16% on 2017, ahead of Spain (47 mln) and France (46 mln). “We are pleased to note that the data provided by the European Commission are in line with those released by the Italian Wine Observatory – says Paolo Castelletti, Secretary General of the Unione Italiana Vini (Italian Wine Union) –. This confirms the reliability of the scientific predictions method we have developed together with ISMEA, to provide Italian producers with reliable data for plans and strategies”.
ITALIAN WINE AND THE PROBLEM OF PRICES
“Considering these data – adds Castelletti – it is necessary to reflect on price trends. As good as latest harvest has been, in fact, we saw a reduction in prices at origin. This is absolutely unjustified and it would seem to be the result of speculation. This would be absolutely harmful for the sector”. In fact, “given a slightly better vintage than the average of recent years, the overall availability of product does not justify the downward tensions in prices that we are detecting on the markets”.