Exports of Italian sparkling wine such as prosecco to the US surged by a record amount in November before possible tariffs on the sector, the latest available data from industry group Unione Italiana Vini (UIV) showed.
Export volumes grew 41% in November, compared with a 19.5% growth in the first 11 months of the year overall, according to the industry body.
The UIV said there had been a 'sudden rush to stockpile' in anticipation of possible duties on imported goods to be imposed by president Donald Trump, who took office on Monday (20 January). UIV said such an increase sets a record for the month of November.
Exports of Italian bottled still wines increased by 17% in November, UIV data showed.
"With an export value that will exceed €1.9 billion ($2 billion) in 2024, the United States accounts for 24% of Italian wine exports," UIV's chairperson Lamberto Frescobaldi said in a statement.
Trump Tariffs
Trump has vowed to hit the European Union and other countries with tariffs in response to their trade surpluses with the US.
UIV secretary general Paolo Castelletti stated, “Inevitably the US will be under even more scrutiny this year, not only for the feared duties but also for the new guidelines on food consumption.
“For this reason, in the coming months we will be in New York at the United Nations to bring a message of conscious and moderate consumption that identifies the vast majority of wine consumers.”
Elsewhere, French champagne shipments fell by nearly 10% last year as economic and political uncertainties hit consumers' appetite for the sparkling wine in key markets such as France and the United States, the French producers association said.
News by Reuters, additional reporting by ESM.
