Brunello up 21% in first 9 months. Average price and key markets soar. Bindocci: Brunello brand drives sales more than rankings, recession fears

The run of Brunello di Montalcino continues on world markets, thanks to a sharply rising average price, a good hold on volumes, and further growth in strategic markets, already protagonists of a boom in demand over the previous two years. These are the results noted by the Consorzio del Vino Brunello di Montalcino, just a few days before Benvenuto Brunello (11-21 November), in the release of data recorded by the new Price Observatory on sales over the first nine months of the year.

According to the sample of wineries, accounting for 28% of designation sales, the growth trend at September registers +21.5% in terms of value, with a leap in average prices of “Vintage” and “Riserva” products – now close to 27 Euros per bottle ex cellar (+14%, with peaks of over 24% in the USA) – well beyond the inflationary push. Also on the rise, surprisingly for a not very rich last vintage (2017), are the volumes, up 6 percent. The projection over the 12 months of 2022, according to the Consortium, should bring a total value of Brunello sales close to 250 million Euros. Numbers for Rosso di Montalcino are also up, with rises in both value (+20%) and volume (+9%)

Among the countries, domestic demand proceeds very well, confirmed as strongly rising and now representing about 1/3 of the entire market thanks to a growth in volumes of over 17%, with values at +31%. But almost all the nations abroad are also driving, starting with the United States, where, against stable volumes, the strong dollar has reduced the impact of the very strong rise in average value (+25%). Behind the USA, alone worth 33% in value of exports, Canadian demand is soaring (+27%), and Germany is also growing in full-bodied double digits, outpacing the UK, the only one of the big nations showing difficulty (-15%).

For the Chairman of the Consorzio del Vino Brunello di Montalcino, Fabrizio Bindocci: “Those who expected a pause for reflection in the markets this year after the exploits of the last two years will have to think again. The designation continues to perform beyond expectations regardless of vintage rankings, thanks to a collective brand that is increasingly recognised and appreciated around the world. That said, the difficult economic phase that awaits us in the short and medium term requires close attention: the International Monetary Fund predicts a recessionary phase in 2023 for Italy and Germany, and even in the U.S. the recent downward outlook for super-premium products analysed by Rabobank rings alarm bells that should not be overlooked.”

Overall, in the first nine months of this year, nearly 7 million bottles of Brunello di Montalcino were sold between “Vintage”, “Vigna” (i.e., single-vineyard) and “Riserva” products, the latter being the protagonist of a very strong increase over the same period in 2021.

At the 31st Benvenuto Brunello (Montalcino, 11-21 November) there will be nine days of planned tastings, with 137 wineries ready to christen Brunello 2018, Riserva 2017 and Rosso di Montalcino 2021. Attending at the event opening will be the national and international press, the Masters of Wine and selected buyers and operators; the preview will continue in the following days with haute cuisine sommeliers, operators, producers and wine-lovers. New for the 2022 edition will be Brunello Day (17 November), with the new vintages also ready for simultaneous debut in London, Toronto, New York and Los Angeles.

The Brunello Economic Observatory is based on the collection of turnover data provided by wineries that join the initiative and voluntarily send information to the Consortium through homogenisation and anonymisation software.