After closing 2022 up nearly 7% in value and 2.2% in quantity, Port started the year in negative territory. And it remained there, even after passing through the first quarter, naturally the least dynamic in the industry, offsetting the big purchases for the Christmas season.
Data as far back as April shows overall port wine sales are down about 10%, both in volume and value, with external markets completely wiping out gains in Portugal. For the president of the Instituto dos Vinhos do Douro e Porto, these are figures that cause concern and “should deserve a reflection”.
In total, more than 18 million liters of Port were sold between January and April, with a total value of 94.4 million euros. Portugal remains the main market for the sale of Port wine, not because of what the Portuguese consume, but because of tourism, growing by almost 8% in value to 19.7 million euros, although the volume registered a decrease from 1.3% to 3.3 million litres.
But the other markets in the top 10 of the largest Port consumers are declining, with the exception of the United Kingdom, which is growing by almost 14% in value (total of six million euros) and 25% in volume (1,071 million litres). A strategic response from UK presale operators in light of the announced increase in taxes on alcoholic beverages from August, in the order of nearly two euros per bottle.
France, the US, the Netherlands, Belgium, Germany, Denmark and Canada are markets with declines of 12 to 30%. Neighboring Spain, which is the 10th largest buyer of Port wine, is the one with the smallest drop, 2.3%, in this group.
Source: DN
