Spain’s harvest volumes are lower than expected, with significant losses in the east. Meanwhile, prices for new campaigns are rising, while France and Italy see mixed trends in wine pricing.
The luxury conglomerate LVMH closes a 10-year mega-deal with Formula 1. It follows the three-year sponsorship agreement with the Italian brand, Ferrari Trento, which began in 2021.
According to the latest estimates from the French statistics agency Agreste, the French wine harvest has dropped to levels seen in 2021. However, no price increase is expected.
While red wines are generally experiencing significant slowdown, dynamic companies in Languedoc-Roussillon are maintaining sales and even recording some encouraging growth.
The French government is almost certain to fund the uprooting of another 37,500ha of vineyards, in addition to up to 9,000ha that have already been earmarked for grubbing up in Bordeaux. Some estimates suggest that five times this area will have to go.
It’s got a wine-growing history that dates back to the Roman world. It’s got more than 220 authorised grape varieties over 55,000 hectares of vineyards, and it’s one of the most exciting wine-growing countries in Europe.
