Chocolate Sales In Portugal To Surpass €200 Million In 2017
Chocolate sales in Portugal are set to exceed €200 million in 2017, representing growth of between 3% and 5% on 2016, according to Associação dos Industriais de Chocolates e Confeitaria (Association of Chocolatiers and Confectioners).
Lusa reports that five years ago, per capita consumption of chocolate in Portugal amounted to 1.5 kg per year, but this figure should reach 2kg by the end of 2017.
However, the Portuguese are still at the bottom of the European table in terms of consumption, behind Spain (4 kg/year) and Greece (3.8 kg/year).
The association claims that chocolate sales are hindered by the country's 23% VAT rate, and has proposed that Portugal follows Spain’s example and adopt a VAT rate of 10%.
In this way, the group claims, chocolate consumption would increase not only during the Christmas and Easter periods, but also throughout the year.
Portugal’s largest chocolate producer, Imperial, is expecting sales of €34 million in 2017, up 20% on the previous year, according to Lusa.
The company's executive president Manuela Tavares de Sousa said that 30% of its turnover comes from foreign markets - an increase of 10% compared to 2016.
She added that, in the last five years, Imperial has achieved "sustained growth," both in Portugal and abroad.
In the period until October 2017, Imperial had recorded sales growth in its home market of around 7%.
Imperial sells its products in 50 foreign markets on all continents, with Spain and Poland being the major export markets in Europe. The company also has a significant presence in Angola, Mozambique and South Africa.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine