There is a risk of a short circuit for Italian wine in this 2023, which, according to the UIV-Vinitaly Observatory, is shaping up to be the most complicated in the last 20 years. Bad news comes from the current grape harvest, whose estimates on the quantitative level look even more downward than already anticipated a month ago (-12 percent) by the Assoenologi, Ismea and UIV Observatory. Particularly in the North - starting with Veneto, Friuli Venezia Giulia, and Piedmont - but also in the South (Abruzzo and Sicily), the volumes of grapes harvested are lower than budgeted due to hail events and persistent heat, which dried out the grapes. In contrast, an excellent quality vintage is expected for many of the country's important appellations, starting with red wines. Despite the scarcity of product available for the new vintage, UIV notes, the bulk wine market is firm, with the number of bargains at -40 percent compared to the traditional average for the period and prices that - not only on ordinary wines, but also on PDO-PGI wines, especially from central and southern Italy - are experiencing strong upward pressure.
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