In Spain, apart from the dry areas of eastern Spain, a good harvest volume of around 40m hectolitres is expected. The prices for white wine are therefore likely to fall significantly from August, although Italy is expected to buy a lot of sparkling base wine and also some must. However, there is unlikely to be much Moscatel from Valencia, and Monastrell and Bobal will also be difficult to obtain, but could be substituted favourably with other red wine varieties.
At the moment, white wine is often only offered in a package with red wine. In Italy, Pinot Grigio IGT is almost sold out. Demand for generic white wines is high here and some producers are downgrading their DOC wines.
The north is expecting an average harvest. An average harvest is also expected in the south of France; the water supply is favourable this year. Cognac anti-dumping duties in China could ensure favourable sparkling base wines from the Charente.
