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Wine Report of November 12 2025

with:

(Focus on Italy, global coordination for winery/consortium decisions and M&A).

Key updates

– In Europe, Copa Cogeca raises its production estimate for EU wine in 2025 to 145.5 Mhl (1% vs 2024), but still approximately ‑7.5% below the five-year average.

– In Italy, the joint estimate by Assoenologi / ISMEA / Unione Italiana Vini points to ~ 47.4 Mhl (8% vs 2024) with quality judged good-excellent; however, some industry sources report an “adjustment towards low forties”.

– Italian exports (Jan-Jul 2025): value -0.9% / volume -3.4%. In the USA, due to 15% tariffs, a decrease in value of approximately -28% in the two-month period July-Aug.

– Italian stocks as of 09/30/2025: approximately 36 Mhl , -9.6% compared to July but 1.3% on an annual basis → signals residual stock and potential pressure on bulk wine and generic grape margins.

– In global wine trade H1 2025: value 2.3%, volume 3.7%. The “bulk wine” segment held up better: 0.3% in value and estimated average price ~€0.78/L (2.1%).

– On the regulatory front: the EU will require mandatory ingredients and nutritional information for wine starting in December 2023, with the option of e-labeling/QR; the OIV has updated its 2025 standards on practices and labeling; in Italy, decrees of 20/12/2024 and 14/05/2025 regulate the production of (partially) dealcoholized wine and its use in mixed-use premises.

– Speaking of awards, Wine Enthusiast’s “Top 100 Best Buys 2025” ranking includes 17 Italian labels , with brands like Saracco and La Raia in the Top 10, strengthening Italy’s quality/price positioning in the premium segment.

M&A Radar

Deal / RumorPartsSizeGeoSource
Transfer of the Cinzano & Frattina brandsCampari Group → Caffo Group 1915~€100 millionItalyReuters June 26, 2025
Tannico AcquisitionCASTEL Vins ↔︎ TannicNDItaly/FranceForvis/Mazars press release, October 6, 2025
Binding offer for Valle Talloria (former Giordano complex)Caffo Group 1915 ↔︎ Italian Wine BrandsNDItaly (Piedmont)IWB press release 09 Oct 2020

Prices & Harvest

  • Italian Grapes (examples, October price lists): Sangiovese ~ €26-30/q ; Merlot/Cabernet ~€28-30/q; Sagrantino DOCG ~€100-140/q. Trend: ~30% y/y; in some cases up to 50% vs. 2023; with the exception of Trebbiano Spoletino, which is rising sharply due to scarcity.
  • Global bulk wine H1 2025: average price ≈ €0.78/L (2.1% vs previous year) in a context of weak trade and cautious demand.
  • Italian stocks as of September 30, 2025: ~36 Mhl; estimated harvest ~47.4 Mhl (quality declared good/excellent) but risk of reductions in some areas due to weather/yield; in France, the harvest forecast is ~36.2 Mhl, influenced by heat waves and summer drought.
  • Implications: pressure on bulk and generic grape margins, opportunities for premium segments and labeling/packaging innovation.

Wine Report of November 11, 2025

with:

(Focus on Italy, global coordination for winery/consortium decisions and M&A)

Key updates

  • At European level, Copa‑Cogeca has estimated EU wine production for 2025 at 145.5 Mhl , up 1% compared to 2024 but still ‑7.5% below the five-year average .
  • In Italy, the combined estimate by Assoenologi-ISMEA-Unione Italiana Vini is 47.4 Mhl (8% compared to 2024) with quality rated good/excellent; however, some industry sources report a potential adjustment towards the “low-forties”.
  • On the export front, Italy recorded a decrease for the period January-July 2025: -0.9% in value / -3.4% in volume . In the United States, due to the 15% tariffs, a decrease in value of approximately -28% was recorded in the two-month period July-August.
  • Stocks in Italy as of September 30, 2025 amount to approximately 36 Mhl , with a decrease of -9.6% compared to July but still 1.3% on an annual basis: this implies pressure on bulk and on the margins of more generic grapes.
  • Globally, wine trade in the first half of 2025 recorded a -2.3% in value and a -3.7% in volume , while bulk wine filter held up better with a -0.3% in value and an estimated average price of around €0.78/L (2.1%).
  • On the regulatory front, the EU has already mandated the inclusion of ingredients and nutritional information for wine (with the option of e-labeling/QR) since December 2023. The OIV has updated its 2025 standards regarding practices and labeling. In Italy, the decrees of December 20, 2024, and May 14, 2025, regulate the production of (partially) dealcoholized wine and its use in mixed-use premises.
  • In terms of market recognition, Wine Enthusiast’s “Top 100 Best Buys 2025” ranking includes 17 Italian labels , with brands such as Saracco and La Raia in the Top 10, strengthening Italy’s “value for money” positioning in the premium segment.

M&A Radar

Deal / RumorPartsSizeGeoSource
Transfer of the Cinzano & Frattina brandsCampari Group → Caffo Group 1915~€100 millionItalysource Reuters (June 26, 2025)
Tannico acquisition closedCASTEL‑Vins ↔︎ Tannicnot disclosedItaly/FranceForvis/Mazars press release (October 6, 2025)
Binding offer for Valle Talloria (former Giordano site)Caffo Group 1915 ↔︎ Italian Wine Brandsnot disclosedItaly (Piedmont)IWB press release (October 9, 2025)

Prices & Harvest (mini-box)

  • Grape varieties in Italy (e.g., Umbria, October price lists): Sangiovese €26-30/q; Merlot/Cabernet €28-30/q; Sagrantino DOCG €100-140/q. Trends: -~30% y/y , in some cases up to -50% vs 2023 ; the only exception is Trebbiano Spoletino, which is rising sharply due to scarcity.
  • Global bulk wine H1 2025: average price ≈ €0.78/L (2.1% vs previous year) in a context of weak trade and cautious demand.
  • Italian stocks: ~36 Mhl as of September 30; with an estimated 2025 harvest of ~47.4 Mhl (quality declared good/excellent) but with a risk of reductions in some areas due to weather/yield.
  • France: Harvest forecast ~36.2 Mhl, influenced by heat waves and summer drought which are limiting both volume and qualitative uniformity.

Daily Report – November 10 2025 on the World of Wine (Italy & Global)

with:

Daily report – November 10, 2025 on the world of wine (Italy & global), designed for those who lead operations in wineries/consortia.

(Focus on Italy, global coordination for winery/consortium decisions and M&A)

  • 2025 harvest (EU/Italy/France): Copa-Cogeca estimates 145.5 Mhl EU (1% y/y; −7.5% vs. 5-year average). Italy leads with ~47 Mhl , Spain ~31–32 Mhl; France revised to ~36.2 Mhl due to heat and drought.
  • Italy – 2025 harvest: joint Assoenologi–Ismea–UIV estimate: 47.4 Mhl (8% vs 2024) with good/excellent quality; some supply chain readings indicate a possible “low-forties” (~44 Mhl) .
  • Italian wine exports: in July 2025 the YTD balance is −0.9% value / −3.4% volume ; USA in negative territory and affected by 15% tariffs (since August): −28% in value in the two-month period July-August .
  • Italian stocks: as of 09/30/2025 in the cellar ~36 Mhl (-9.6% vs July; 1.3% y/y) → pressure on bulk price lists.
  • Global market H1-2025: world trade −2.3% value / −3.7% volume ; bulk holds steady in value (−0.3%) with average price ~€0.78/L ( 2.1%) .
  • Rules & Labels: EU: Ingredients & Nutrition Facts mandatory from December 8, 2023 (also via e-label/QR ). OIV updates the 2025 standards (Codex/Practices/Labeling). In Italy, decrees of December 20, 2024, and May 14, 2025, regulate (partially) dealcoholized wine and its use in mixed-use premises; restrictions on PDO/PGI remain in place according to the current texts/amendments.
  • Awards/Rankings: “ Top 100 Best Buys 2025 ” (Wine Enthusiast): 17 Italian labels (Saracco, La Raia in the Top 10).

M&A Radar (updated 10/11/2025)

Deal / RumorPartsSize / noteGeoSource
Transfer of the Cinzano & Frattina brandsCampari → Caffo Group 1915€100 million ; closing expected by the end of 2025IT
Tannic (closing 06/10/25)CASTEL-Vins ↔︎ TannicndIT/FR
Talloria Valley (former Giordano complex, IWB) – binding offerCaffo Group 1915 ↔︎ Italian Wine Brandsnd; “new Cinzano House”; move expected by the end of 2025IT (Piedmont)

Prices & Harvest — mini box (flash)

Grapes 2025 (Umbria, Chamber of Commerce price lists / local press – October):

  • Sangiovese €26–30/q; Merlot/Cabernet €28–30/q; Sagrantino DOCG €100–140/q. Trends: −~30% y/y (up to −50% vs 2023); the only exception is Trebbiano Spoletino, which is rising sharply due to scarcity.

Bulk wine (global):

  • H1-2025 average bulk price ~€0.78/L (2.1%), weak trade; in Italy demand is cautious with high inventories .

Stocks & Returns (Italy):

  • Stocks ~36 Mhl as of September 30; harvest ~47.4 Mhl (good/excellent quality) with possible reductions in some areas.

France (weather/yield):

  • 36.2 Mhl expected; heat waves and summer droughts have compressed volumes, quality varies by area.

Daily Report – November 9 2025

with:

on the world of wine (Italy & globally), designed for those who manage operations in wineries/consortia.

Key updates

  • The estimate for the 2025 Italian harvest is around ~47.4 million hl , 8% compared to 2024, which confirms Italy’s world leadership in terms of volume.
  • Italian wine exports in the first seven months of 2025 show a slight decrease in value (-0.9%) and a contraction in volume (-3.4%) compared to the same period in 2024.
  • The global wine market (H1 2025) records a decrease in volume (~‑3.7%) and value (~‑2.3%), while the average price per litre in some segments (bulk) rises to ~€0.78/litre (approximately 2.1%).
  • Inventories remain high in the Italian bulk and bulk wine segment: large quantities clash with demand, putting pressure on margins.
  • Innovation: An academic study reports how AI and remote sensing are playing a growing role in viticulture, production, and wine tourism.
  • Changing preferences: interest in whites, sparkling wines, and innovative formats is growing; red wines are showing signs of stagnation or decline (specific data for Italy is not always disclosed). (Source: broader imported trend)
  • Italy has allocated over €27 million (with a target of >€63 million in total co-financed) to promote Italian wine in non-EU markets for 2025/26, considered strategic in a context of export challenges.

M&A Radar

Deal/RumorParties involvedSize (if stated)GeographySource
Transfer of the Cinzano Frattina brandCampari Group → Caffo Group 1915~€100 millionItaly

Prices & Harvest – mini-box Harvest & yields

  • Italy 2025: ~47.4 Mhl estimated (8% vs 2024) but with local/regional uncertainties.
  • In some regions (e.g. Tuscany) forecast decrease: Tuscany estimated ~2.4 Mhl vs 2.7 Mhl in 2024.

Grape / bulk wine prices (Italy)

  • Bulk market Italy: average price reported ~€0.78/litre (2.1% vs previous period) in some reports.
  • Price pressure in regions with large surpluses and weak demand. High inventories = compressed margins.

Weather/Quality Note

  • Good-excellent quality reported for many areas, but increasing quantities in some regions which may generate supply/demand imbalances.