Italy | Trade
Italy publishes weekly wine and oil stocks in the country "to avoid speculative phenomena and unfair practices"
The data, which are intended to avoid damaging the reputation of 'Made in Italy', and which are published on the Mipaaf website, represent "a fundamental tool for producers and operators".7/22/2020
Italy has released weekly national wine and oil stocks data, as a measure, according to Italian Agriculture Minister Teresa Bellanova, to "avoid unfair practices and lighten the market."
According to data provided by the Italian Ministry of Agriculture this week, 43.3 million hectoliters of wine have been recorded in stock at Italian wine factories, 2% less than on July 8 and 2.4% less than a year ago.
For its part, olive oil deposits also decreased compared to the last report, although they are still very different numbers (+ 36.4%) compared to last July 15, 2019.
The weekly reports of the national wine and oil stocks, "Cantina Italia" and "Frantoio Italia", prepared by ICQRF, the Central Inspectorate for the repression of fraud by the Italian Ministry of Agriculture, are online on the Mipaaf website. A fundamental tool for producers and operators, which allows you to know weekly the amount of wine and oil storage present in the national territory.
"The confinement has shown us all the centrality of the agri-food chain, but also its fragility. Wine and oil have been two of the sectors most affected by the blockage of commercial channels caused by the health emergency and that is why we have decided immediately to guarantee simple and immediate weekly information, to allow producers and operators in the sector to know the quantity of oil and wine stocks in the national territory and to avoid speculative phenomena and unfair practices that affect Made in Italy and damage our reputation ", Minister Bellanova said. "The food emergency is returning to normal, but the economic and social emergency still needs to be managed with great attention. Wine stocks are in line with last year, while oil is suffering more from the effects of the blockade. We are intervening on several fronts to lighten the market and avoid overproduction that could affect not only the price trend, but also the image of our quality productions, now close to the eve of the new harvest and the olive season. grateful to the inspectors and the provincial delegations of ICQRF, who with their commitment are allowing the Mipaaf to be the only one in the world to provide this weekly service. "
In detail, regarding wine, compared to the previous year, a reduction of 2.4% was observed for wines, 7.3% for musts and 64.3% for new wine in fermentation compared to with the same week last year.
58% of the wine in Italy is stored in the cellars of the northern regions: in Veneto alone, about a quarter of the national wine is present.
52.6% of the wine contained is PDO, with a prevalence of red (56%). 25.9% of the wine is PGI, also in this case with a prevalence of red.
As for oil stocks in Italy (311,113 tons), 69.6% is represented by Extra Virgin Olive Oil (EVOO). In the olive oil sector of EVOO, 57.7% (124,924 t) is of Italian origin and 34.9% is of EU origin. Stocks of extra EU oil (8,811 t) and combined oils (7,223 t) are marginal. The stocks of organic EVOO oil are very high (more than 35,000 tons).
At the regional level, Apulia, Tuscany and Calabria have 62.8% of the entire national stock. More than 56% of DOP and IGP oil stocks are made up of "Terra di Bari" oil.
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