Italian Wine Exports To US Grow In Value In 2016
Italian wine exports to the US in 2016 reached 2.53 million hectolitres and $1.33 billion – a decrease of 0.5% in quantity, but an increase of 3.1% in value, compared to 2015.
If table wines are added to sparkling wines, liqueur wines and vermouth, total Italian exports reached €1.8 billion, according to a report by the Italian Wine & Food Institute (IWFI).
Italy accounts for 33% in value and 29% in quantity of the US wine-import market. The average price of bottled Italian wine is about $5 per litre, compared to $9 for French wine (the most expensive) and $3 for Australian wine (the least expensive).
There has also been a substantial increase in exports of Italian sparkling wine, estimated by the IWFI to be 632,258 hectolitres (+30.8%), for a value of $353.45 million (+36.4%).
Overall, US wine imports in 2016 amounted to 8.86 million hectolitres (+0.3%), for a value of $4.0 billion (+2.8%).
There was a significant decrease in wine exports from Australia (-13.6%) and Argentina (-26%), while exports increased from Chile (+19%) and New Zealand (+14%).
There was also a steady increase in wine exports from France (+12%), which is now firmly established in fourth place in quantity and the second in value among the major exporting countries to the US.
Nearly three quarters of total wine exports to the US by quantity are supplied by four countries (in order: Italy, Chile, Australia and France), and 75.3% of total wine exports by value are from Italy, France, New Zealand and Australia.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up for ESM: The European Supermarket Magazine.