NEWS
VINIPORTUGAL: WINE EXPORTS TO CHINA INCREASED 12% IN Q1 2024
By Susan Lewis
23-5-2024
Source: ViniPortugal
After several years of decline, Portuguese wine exports to China saw a double-digit increase in the first quarter of 2024, according to wine association ViniPortugal.
China purchased Portuguese wine valued at around €2 million in the first three months of 2024, a more than 12 percent increase over the same period in 2023.
By volume, there was a 2.1 percent decline, but that was offset by a more than 2 percent growth in average price.
Overall, Portuguese wine exports in the first quarter brought in a total of €212m, netting an average price of 2.85 euros per litre for the 74 million litres sold.
Portuguese wine exports to Netherlands during this period saw the biggest jump in average prices increased by nearly a third.
Frederico Falcão, president of ViniPortugal, pointed to marketing strategies and the expansion of distribution channels in recent years as the driving force forthe continued resilience of Portuguese wine in an increasingly unstable market.
Nearly a third of Portuguese wine export revenue came from three countries, namely France at €24.8m, the United States at €23.7m and Brazil at €18.3m.
(the writer can be contacted at: info@thewinechronicle.com)
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