Beaujolais Nouveau Prices Increased by 50%

The Beaujolais Nouveau sales campaign got off to a flying start this week, taking negociants by surprise! The trade expects prices to be capped at 250 euros/hectolitre for Beaujolais Nouveau and €270 /hl for Beaujolais Villages Nouveau, one operation launched this year’s ‘blitzkrieg’ with prices of €300 /hl for Villages primeurs.

As co-operative wineries began selling their wines, the campaign remained firmly on track at these launch prices. Initial market price lists issued by the Beaujolais wine marketing board show that the prices of Primeurs are in excess of €280 /hl for Beaujolais Nouveau and €300 /hl for Villages, an increase of 50 % compared to the ceiling price of €190 /hl which led to winegrower demonstrations last year. After the frost and mildew, “the crop is small and there is nothing to panic about”, said David Ratignier, chairman of the producers’ organisation, in a bid to put the hikes into perspective. He claims that “prices are not skyrocketing but increasing due to a small crop (barely 35 hl/ha for Beaujolais and 30 hl/ha for Villages). Constrained yields are compounded by lack of inventory and record sales”.

Compared to last year’s downward pressure on pricing, Olivier Richard, secretary of the Greater Burgundy wine brokers’ organization, claims “we’re going from one extreme to the other. I’ve never seen anything like it – a quota system for Primeurs. There are so few wines and so few unspoken-for volumes that even if the trade is reluctant to pay the prices, the ball is in the court of the winegrowers”.

 

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Italy Becomes ‘Dominant Force’ on the Fine Wine Market

According to Liv-ex, Italy has become a ‘dominant force’ on the fine wine market, with the country’s previously under-represented regions rising in importance on the secondary market.

Last year Italy’s sub-index increased 12.2%, and the increased trading of Italian wine on the secondary market trade has shown Italy becoming the third most traded category, according to a recent Liv-ex report. Italy enjoyed a record high market share at 16% in the year-to-date, behind Bordeaux (40.5%) and Burgundy (20.4%).

In recent years, there has been a significant expansion in the market of Italian fine wine, with the number of vintage wines on the secondary market having grown 2,566% between 2010 and 2021. There is no sign of this slowing either, as this year has seen it surpass the levels achieved for the whole of 2020, by 5.3%.

The Liv-ex report shows that demand for the critically acclaimed Super Tuscans has generated the majority of trade, offering steady returns and low volatility. However, as this demand has grown, more Italian brands have entered the secondary market, and there has been greater exposure of some of these ‘lesser’ known regions, such as Veneto, Abruzzo, Umbria, and others which have entered the market in the last two years.

“The increased diversity of Italian wines trading on the secondary market would not have been possible without Italy’s strengthened image as a competitive fine wine force on the international stage,” Liv-ex said.

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The World’s First Wine Bank Launches Cryptocurrency

The Italian Wine Crypto Bank (IWCB), the only global wine bank based on blockchain and cryptocurrency launched today (September 21, 2021) what it calls “the first cryptocurrency in the world entirely guaranteed by wine.”

The coin used is called IWB and this evolutionary utility token is tradable through LATOKEN Exchange on the secondary market, particularly with Italian wines.

Currently, there are 27 Italian wineries that have partnered with IWCB for the IWB cryptocurrency, according to IWCB.

The wineries include: Allegrini, Arnaldo Caprai, Baracchi, Barattieri, Boroli, Casa E. Di Mirafiore, Castello Di Perno, Castello Di Querceto, Elena Fucci, Fattoria La Magia, Incontri Organic Wine, Macchie Santa Maria, Marchesi Mazzei, Mocali, Planeta, Podere Il Carnasciale, Poggio Al Tesoro, Salvatore Molettieri, San Polo Montalcino, Tasca D’Almerita, Tenuta Di Capezzana, Tenuta L’impostino, Tua Rita, Vini Franchetti Tenuta Di Trinoro, Passopisciaro, Sancaba, and San Filippo.

“The big news is that, compared to all the other tokens, IWB can be redeemed by its holder at any time, obtaining fine Italian wines from the IWCB portfolio for the same value paid for the tokens in the IEO”, explains Davide Casalin, Operations Manager of the IWCB.

This means the investment in IWB tokens is fully guaranteed by fine Italian wines, and it will also allow IWB tokens in the future to be used to directly buy wines from producers, according to IWCB bank.

“The Italian Wine Crypto Bank is a winning way to expose the fine wines of our Partner Wineries to the new market of crypto users, which are now over 221 million worldwide, and expected to double in the coming months”, adds Rosario Scarpato, Founder and Director of the IWCB.

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Italian Grape Prices Are Now Listed Online

The Unione Italiano Vini (UIV), in collaboration with the Association of Wine Commissaries (MEd.&A.), has set up an online service showing trends in grape pricing. Just in time for the harvest season, the Osservatorio provides daily average quotations for 15 key grape varieties (in English and Italian).

This information is available via a free trial, but the paid subscription offers a much broader range of data including weekly prices for 450 varieties of wine and must, stretching back over a decade, as well as information on global trends.

Website:

https://www.osservatoriodelvino.it/uve/medea

 

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Portuguese Wine Exports Increase H1

Exports of Portuguese wines increased by 14.5 % in volume and 19.3 % in value, during the first six months of 2021, reaching almost €436 million.

“Portuguese wine exports had very positive behavior in the first half of 2021, registering a remarkable increase, both in value and in quantity, when compared to the same period of 2020: 14.5 % in volume, 19.3 % in value and 4.2 % in average price”, stated the Ministry of Agriculture.

Between January and June, Portuguese wine exports stood at €435.6 million, €70.5 million more than last year.

With regards to the community market, exports advanced 14.6 % in volume and 19 % in value in the first half of the year, while the average price grew by 3.8 %.

In turn, exports to third countries increased 14.4 % in volume and 19.6 % in value until June, compared to the same period in 2020.

France, United States, United Kingdom, Brazil and Germany were the most important markets during this period.

According to data from the National Institute of Statistics (INE), quoted by the Ministry of Agriculture, the agri-food complex grew 8.4 % in the first semester, compared to the same period of 2020.

“This is another sign of the sector’s resilience and capacity to adapt to the situation of a serious health crisis that we are still going through. The Ministry of Agriculture has always been on the side of producers and companies, with the necessary measures to guarantee predictability and stability in this period of greater uncertainty”, said the Minister of Agriculture, Maria do Céu Antunes.

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