Consorzio del Vino
Brunello di Montalcino®

CORONAVIRUS: U.S. RESTAURANTS CLOSE, WORRIES FOR ITALIAN WINES

 

18/03/2020

CORONAVIRUS: U.S. RESTAURANTS CLOSE, WORRIES FOR ITALIAN WINES

BINDOCCI (CONSORZIO DEL VINO BRUNELLO DI MONTALCINO): LOYAL TO OUR PARTNERS

2000 LISTINGS OF BRUNELLO IN NEW YORK RESTAURANTS ALONE

 

(Montalcino - Siena, 17 March 2020). "As had already been decided in Italy, 19 American states have chosen to defend themselves against Covid-19 by closing restaurant services – services that normally involve a very large share of Italian foods and wines. The Tuscan producers of Brunello di Montalcino remain close to our American friends and committed to joining the front ranks with them at the moment of the restart." This was the comment of Fabrizio Bindocci, Chairman of the Consorzio del Vino Brunello di Montalcino, on the new announcement by President Trump of more rigorous measures by the U.S. government against the emergency, and the lockdown of restaurants in 19 states. 

 

Bindocci added: "We are confident that the right measures are being taken to counter the Coronavirus emergency, however our producers are certainly concerned about the commercial situation. In our two main world markets, in the space of a few days, our largest sales channel - the on-trade - has shut down. The U.S. and Italy typically account for 60% of Brunello global sales. According to a recent survey by Nomisma Wine Monitor on a sample of wine lists of 350 restaurants, in the city of New York alone 30% of the red wines ‘speak Italian’ and of these a third are Tuscan, with about 2000 listed labels coming directly from Montalcino, at an average price of $382. “Now - concluded Bindocci - we need to wait, and our wine knows how to do it, and respect the rules. Our 2015 vintage will be ready to re-enter the competition, taking up from the promising start before this recent halt, particularly overseas." 

 

In the U.S., almost half of Italian wine consumption in value terms goes through on-trade, for an equivalent of about 800 million euros. Imports of Italian red wines overall have increased 20% in the last five years.