Portugal Plans €13m Investment To Promote Wine Exports In 2018
Portugal is planning to invest around €13 million in the international promotion of its wines next year, according to wine association ViniPortugal.
The group, which will invest about €6.5 million of this total, says that 24% will be invested in the US – the main export destination of national wines. The US registered 9.2% annual growth in volume of Portuguese wine imports between 2011 and 2016.
The top ten importers also include France, the UK, Germany, Canada, Belgium, the Netherlands, Angola and Switzerland, representing 63.5% of total exports in volume and 73% in value.
Priority markets for future investment include Canada, China, Russia, Switzerland and Poland.
The most popular category, Madeiran liqueur wine, saw exports grow by 39.3% in volume this year, compared to 2016, while sparkling wines saw an increase of 30.7%.
According to ViniPortugal president Jorge Monteiro, total wine exports should surpass €800 million in 2017.
Portuguese consumers, for their part, prefer red wine, both in volume and in value, with sales of around €305 million this year.
The average selling price of a bottle of wine amounts to around €4 per litre. Alentejo wines are the market leader, with sales of €133 million in the period of January-September 2017.
© 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.