Prosecco Prices May Rise in 2018

U.S. retailers can blame next year’s higher prices on poor harvest.
Photo Courtesy of Bortolomiol

Several Prosecco producers told Wine Enthusiast that they are planning price increases of up to 15% next year and blamed Italy’s poor harvest this year for a lack of supply.

Italy’s farmers’ association Coldiretti said the 2017 harvest resulted in a 26% drop in production to 40 million hectoliters, about 1.05 billion gallons, down from some 54 million hectoliters last year.

The Prosecco DOC production area, located in northeast Italy, produced 410 million bottles last year, up from 141 million bottles in 2010.

Coldiretti is predicting a 15% rise in Prosecco export sales for this year. For 2017–2019, the Prosecco DOC Consorzio, which represents growers and wineries in the region, is anticipating growth in global sparkling consumption of at least 5%.

Prosecco grapes.
Photo courtesy of Bortolomiol

DOC Plans To Add More Vineyards

Based on the forecast, Stefano Zanette, president of the Consorzio, said the DOC plans to expand its vineyards by about 5% a year from 2017 to 2019. This year, the Consorzio has recognized 2,900 acres of new vineyards.

Relying on figures for the first eight months of 2017, Coldiretti forecasts Italian sparkling wine sales will reach 1.2 billion euros ($1.42 billion) for the year. Exports account for 75% of Prosecco’s sales, while the remainder is consumed domestically.

“A rise in bottle prices of around 10 to 12% is plausible for next year,” said Giorgio Serena, president of Serena Wines, a Prosecco producer based in Conegliano, a town about a two-and-a-half-hour train ride north of Venice.

Producers hope that the boost in production and prices will not hurt Prosecco’s status as a sparkler for all occasions.

Elvira Bortolomiol, of the Prosecco producer, Bortolomiol, expects a price rise of between 10%  and 15% in 2018.“We hope that international buyers will keep appreciating the quality of our wines and will continue to bet on that. The coming year will be a testing ground for all of us.”

Published on November 28, 2017
Topics: Latest News



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