With the war in Ukraine, the export of made in Italy wine risks damage of 400 million like France and Spain
According to the predictions of a careful and competent observer like Wine Monitor-Nomismathe war in progress between Russia And Ukraine risks jeopardizing a turnover in the wine world which for theItaly worth 400 million euros. Our country is in fact the first supplier of the two main nations involved in the conflict, much more exposed even than prestigious competitors such as France and Spain. According to theNomisma Observatoryon the market in 2021 the Russia imported 345 million euros of Italian wine (+ 18% on 2020) while in Ukraine the numbers are lower but growing (+ 200% in 5 years) to 56 million euros, for an aggregate of about 400 million euros. The situation is different for France And SpainCountries for which the impact deriving from the ongoing conflict is more limited: at risk 217 million euros for the French, 146 million for the Spaniards, that is to say respectively 2% and 5% of the total export of winecompared to 6% of Italians.
War between Russia and Ukraine, the “suffering” of Asti Spumante
If we then analyze the individual categories of wines, we discover that the greatest suffering concerns theAsti Spumante, which touches upon a potential loss of its exports of a quarter of its value. As well as for sales, equal to 20% across borders for generic products such as Italian sparkling wines and 13% for sparkling wines. The same is not true for i French and Spanish wines. But the sore point does not stop there: in the new sanctions package imposed on Russia, just launched by the European Council, there is also wine. And sanctions a stop to shipments to fly of bottles over 300 euros. Even if the EU Commission he will soon have to clarify whether by “unit” he means the bottle or the crate, that is, the pack of six bottles.
Italian exports and the devaluation of the ruble
In any case, it is a measure that is mainly aimed at suspending the supply of luxury goods for the oligarchs. Hence the option to indicate such a high price threshold. However, the troubles never come alone. For theItalian export there is also the progressive and consistent devaluation of the ruble, which has already lost more than 50% of its value. What forces companies operating on the Russian market to make a sudden revision of the contractual arrangements, especially as regards commercial relations with the country of Putin at war with that of Zelensky. While the anticipated counter-moves of the first are expected shortly, he has already made it known that he wants to make known as soon as possible a “blacklist“Of products that will no longer be imported fromEuropean Union and give it United States. And, among these, there could be the wine. We just have to wait to see and know. However, those Italian companies that had the Russian market as their sole interlocutor and that in recent years had also bet everything on that of Ukraine, one of the markets that had expanded the most, recording even more than 30% of imports, are at greater risk. While, in the meantime, the costs of energy bills, diesel, oil and fertilizers continue to run. For the agricultural world an incalculable drain and damage.
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