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The energy crisis is causing additional costs of 1.5 billion euros in the Italian wine sector, but only about 900 million of these can be passed on to consumers without losing market share. This was surveyed by the Unione Italiana Vini (UIV), which was supposed to represent one third of the industry. According to the survey, packaging materials such as glass, paper, cartons, corks and aluminium cost the industry 1 billion euros (+83 per cent) more than at the beginning of 2022, energy 425 million euros. Logistics and labour costs account for the rest of the increase. Overall, total costs increased by 28 per cent.
The 6.6 per cent increase in list prices estimated for the first nine months of this year is well below the 11 per cent price increases requested by companies. According to the UIV figures, the corresponding gap amounts to about 600 million euro in costs not covered by revenues, which Italian wine producers have to bear in order not to lose market shares.
UIV President Lamberto Frescobaldi says in a statement: "The survey shows that the current crisis is not sparing our sector, which is not energy-intensive but suffers direct consequences in many of its components. Producers, industrialists, cooperatives and traders must therefore absorb part of the increases in order not to pass them entirely on to consumers and avoid a dangerous fall in consumption."
The UIV sums up the result of the survey: "The market is holding (for now), but it is not compensating for the cost escalation".
(al / source: vinonews24; photo: 123rf)
More on the topic:
Italy: 500,000 fewer wineries since 2000