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Wine not Portugal?

Wine not Portugal? -
Wine not Portugal? - Portugal Business News

Portugal wine exports reach EUR 677.3 million, representing a 3.5% growth in relation to the corresponding period if the Porto wine is excluded. Wine exports are reaching record highs in 2022 and grew by 3.7% in September to reach EUR 92.2 million.

The success in Portuguese wine exports in 2022 is driven by non-Porto wines as the export data for this segment shows a growth of 3.5% to reach EUR 460.6 million.

However, even though there is a slowdown in exports for Porto wine, this segment still accounts for nearly a third of total wine exports. In addition to the high growth in export volume, the average price is also reaching new highs with a 1.6% increase to reach EUR 2.80. Without taking into account Porto wines, this price increase represents a growth of 2.4%.

The main export market for Portuguese wine is the US at the top of the chart, that also performs with a higher average price to reach EUR 4.24. Excluding Porto wine, the average price growth reaches 16.14%.

The top five export markets include Canada with a growth of 7.58% and Angola with a growth of 86.7% to reach EUR 30.5 million. The other countries in this ranking include France, UK and Brazil but these countries have registered a slowdown in wine exports.

Forecasts for total wine exports for 2022 show a 1 to 1.5% growth, due to the best performing export markets that include the US, Canada and Angola.

The best performing wine regions include the Dão that is located in Beira Alta, in a mountainous enclave towards the north of Central Portugal. This regional wine registered the highest growth figures compared to the corresponding period with a 22.5% growth reaching a total amount of EUR 16.1 million.

The Vinho Verde wine exports grew by 3.8% to reach EUR 65.6 million and the Alentejo wine exports exceed EUR 57.2 million, that represents a 13.3% growth. Wine exports from the Lisbon region grew by 4.4%, while the Madeira muscatel exports grew by 9% and the Bairrada wine exports grew by 12.8%. The Bairrada sparkling wine Nossa Solera Desde 2001 Extra Bruto obtained the ‘Wine of the Year’ award of the Revista de Vinhos magazine. Moreover, the Offley Clink Portonic canned tonic port wine from Sogrape won the Innovation of the Year award.

It is to be noted that the Alentejo winery that belongs to the Esporão Group and is managed by João Roquette is one of the world’s largest producers of certified organic wines. It includes the 2019 Herdade do Esporão Reserva wine from the Alentejo region. The family’s other properties include Quinta dos Murças in the Douro region that is also 100% certified organic. The family has initiatives for water use, energy use, packaging and local labour. As a result, it received Michelin’s Eco Distinction award in the fall of 2022.

It is also interesting to note the value of cork stoppers exported from Portugal from 2015 to 2020, by the type of cork exported. In 2020, EUR 416 million worth of natural cork stoppers were exported from Portugal, with Champagne stoppers totalling EUR 130.7 million.

According to ViniPortugal, the Portugal Wine Association, the export figures for Portuguese wine show a positive outlook for 2022. The international trade data from INE shows that exports of all Portuguese goods including wine register a 28% increase for the quarter ended September 2022 compared to the corresponding period. Exports of all types of Portuguese goods have increased in all major economic categories compared to the corresponding period for the month of September, especially for exports of industrial supplies that grew by 24.3%, with Spain being the main export market. Portugal is expected to register a year with a positive overall performance and growth in exports for all goods in 2022.

Since Portugal only has Porto wine as a benchmark region for the export market, the rapid growth in exports from other regions is extremely promising. So, Wine not Portugal?

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