Portuguese Wine Export on the Rise, Non-EU Countries Bring Demand Up
Published on 23rd December, 2013 by
Portuguese wine exports grew in the first three quarters of 2013 to exceed 500 million euro, the Institute of Vines and Wines reported. The growth totals 4.5 percent on an annual basis.
The third quarter of 2013 has been the most favourable one for Portuguese wine producers. The overall exported amounts increased by 7.4 percent. The export to non-EU member countries grew 15.2 percent to represent almost 50 percent of the overall export for the third quarter of 2013. New markets outside the EU have been one of the main reasons for the exponential growth.
According to the Institute of Vines and Wines, the average wine price also grew in the first three quarters of 2013. The increase totalled 11.1 percent. It resulted from market balancing between the wine prices in EU and non-EU countries.
Some of the most active markets that Portuguese wine manufacturers work with include the US, Canada, Angola, Switzerland and Brazil. According to the institute’s predictions, the overall export volume could exceed 700 million euro if the upward trend continues until the end of 2013.
According to another report published by Xinhua news agency, China is another incredibly promising market that has shown significant interest in Portuguese wines. Over the past three years, Portuguese wine exports to China nearly tripled. In the first half of 2013, wine exports to China generated 8.7 million euro. The country is Portugal’s fifth biggest market outside of Europe, Xinhua reported.
The trend has resulted from the increased demand for quality wines in China. Chinese consumers are getting accustomed to enjoying fine wines, which provides great opportunities for the Portuguese producers.
Other emerging markets like Brazil and Angola are seeing similar trends since the taste of local consumers is evolving, Institute of Vine and Wines president Frederico Falcao said in an interview for Bloomberg. Just recently, a bottle of fine Portuguese wine sold for 21,600 dollars during an auction in Angola.
The Bloomberg report predicts that Portuguese wine makers could even experience problems with their ability to meet the growing demand for fine local wines. Winemakers could soon experience the need to invest in new technology that will enable them to increase productivity and meet the international demand.
It seems that the international fame of Portuguese wines will continue to grow and the manner in which local manufacturers will respond is going to be determining for the future development of the trend.
A December Manchester Evening News report suggests that Portuguese wines are a great selection for Christmas 2013. The wide range and the versatility of Portuguese wines sets them apart from other market options, the report concludes.
Some of the fines examples presented in the Manchester Evening News review include wines from the Alentejo region that include a blend of local grape varieties like Arinto, Roupeiro and Antao Vaz. Local wine producers have focused on top quality, creating several limited edition series and following the Portuguese wine-making traditions to create outstanding products deserving of international fame.
The Portuguese range of sweet wines was also included in the selection of fine options for the enjoyable Christmas dinner.