Portuguese wine exports up 8.5% in volume and 1.25% in value to June

Wine exports grew 8.58% in volume and 1.25% in value in the first half of the year compared to the same period in 2023, according to ViniPortugal, which regrets a fall in the price per litre and attributes it to excess stock.

In the first half of 2024, 171.5 million litres of wine worth €452.4 million were exported, at an average price of €2.64 per litre.

In a statement, ViniPortugal, the organisation that represents Portuguese wine exporters and producers, said that “despite the significant increase in volume, it was not accompanied by a proportional growth in value”, resulting in a year-on-year decrease in the average price value by 6.52%. According to the association, this “reflects the pressure of stocks that is felt in the global wine industry.

Quoted in the statement, the president of ViniPortugal, Frederico Falcão, considered it important to increase exports in volume, firstly because it happens “at a time when the wine sector is faced with an excess of ‘stock’ in wineries” and because it means that Portuguese wines are sought after in international markets, demonstrating “competitiveness, resilience and quality”.

As for export markets, the main ones are France (€53.4 million), the United States (€50.1 million) and Brazil (€38.9 million). By volume, France maintains the lead position (17.5 million litres), followed by Spain (16.4 million litres) and Angola (15.3 million litres).