Are we facing a global Prosecco shortage?

Hysteria hit much of the UK after last week’s reports of a potential global Prosecco shortage spread considerable panic across social media and beyond.
Export manager at Bisol, Roberto Cremonese told the Drinks Business at the London Wine Fair: “Last year’s harvest was very poor, and down by up to 50% in some parts, so there is a very real possibility of a global shortage. We’ll find out how big the problem is in August when the brokers release their stock. At the moment we don’t know how much Prosecco they’re holding into”.

The Consorzio di Tutela Prosecco DOC have since told the Drinks Business that such information was “incorrect”, and that although there was a “particularly harsh climate” during 2014 in the Prosecco region, the resulting yield was “9% less than the maximum yield forecasted”, which in turn is 17.9% higher than in 2013.

However, this supply will likely not meet the growing demand for this hugely popular sparkling wine, which recently usurped Champagne as UK consumers’ most popular. Consortium President Stefano Zanette reported that the UK buys 1 in 5 bottles of Prosecco produced, the equivalent of over 60 million bottles, and with summer just around the corner, the demand for this product will continue to increase.

CellarVie Wines’ Managing Director Christopher Carson insists that there is “no doubt” that there is already a shortage of Prosecco: “Those in the know saw this problem coming three months ago. Chances are if you’re trying to acquire a new contract with a Prosecco producer, you will find it difficult to do so. If you already have a contract established with a producer, you will continue to get supply, however even some of the better, medium quality producers are running out. The very cheap Prosecco that was available on the market has now completely dried up”.

Subsequent reports of a sudden price hike are the latest worry for customers and on and off trade retailers alike. This gap between supply and demand will surely provoke an increase in price, although the Consortium stated: “We rule out the possibility of registering any significant increases during the summer. As a consortium we are able to assume that any subtle increases will concern ‘entry level’ productions that is the low-price segment”.
Main blog image from Friuli-Venezia Giulia, Italy by Nadia Clabassi

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Written by: Lucy Prosser

Lucy Prosser 


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