A record grape harvest of Prosecco in Italy will not lead to lower prices

Moscow. November 18. A record harvest of grapes Prosecco, which produces the homonymous sparkling wine in the Italian regions of Veneto and Friuli-Venezia Giulia, will not lead to lower prices because a large proportion of the wine material is sent to storage, Bloomberg reported citing experts.

Almost perfect weather in these areas during the past summer led to an increase in yield to a record level. While wine production is expected to increase by 56% yoy, to 3.5 million hectoliters (467 million bottles), the report of the sectoral organization of the Prosecco DOC Consortium.

According to its forecasts, sales of Prosecco, which is considered a budget replacement of champagne, in the current year will grow on 20%, to 1.68 billion euros. The cost of a bottle is on average $12 vs. $52 for a bottle of French champagne.

In the process of making sparkling wine double-pass the fermentation procedure. In the case of champagne the secondary fermentation takes place directly in the bottle, allowing it to be stored for years. Prosecco is fermented in steel tanks, which reduces the cost, but this wine should be consumed within a year after graduation.

The Prosecco DOC Consortium, Italian wine makers can preserve up to 20% of the wine after primary fermentation to meet the growing demand for wine in the coming years. In addition to creating a reserve for the future, this tactic will prevent the fall in prices due to the increased offer, said the head of the organization Stefano Zanette.

According to him, from 2011 to 2014, the export Prosecco in the United Kingdom, the largest market for this wine in addition to Italy, jumped three times, to 64.9 million bottles. On time delivery in the U.S., the third largest market after Germany almost doubled and amounted to 39.3 million bottles.

Strong growth in demand for Prosecco will continue for at least the next five years, says the head of the largest importer of Prosecco in the USA Mionetto USA the Enora Ceola. Many Americans still don’t know this drink, and also sparkling wine are gaining popularity among the younger audience, he added.