Sales Of Madeira Wine Increased By 8.4 Per Cent In The First Half Of 2023

The sale of Madeira Wine in the first six months of 2023 reached €10.9 million, representing an 8.4 per cent increase compared to the same period in 2022.

Data from IVBAM – the Madeira Wine, Embroidery and Handicrafts Institute – released by the Regional Directorate of Statistics (DREM) this Friday, July 14, indicated that the quantity of this traditional product marketed by the archipelago exceeded 1.5 million litres. That is 4.6 per cent more than in the same period last year it pointed out.

Sales in the national territory showed a positive evolution in quantity. They rose by 15.7 per cent and in value by 23.5 per cent, reaching a total of 317.3 thousand litres sold, which yielded €2.8 million.

Of these values, 248.1 thousand litres and €2 million were related to sales made solely in the Autonomous Region of Madeira.

IVBAM indicated that exports to European Union countries were around 709.3 thousand litres, generating a valuation of €3.2 million. This figure represented year-on-year variations of +0.1 per cent in volume and +1.6 per cent in value.

As for exports to third countries, a total of 481.9 thousand litres were sold. A revenue of €4.9 million was generated, translating to increases of 4.9 per cent and 5.6 per cent, respectively.

France was the best market in the EU

With regard to European Union countries, the French market was the predominant one. It was followed by Germany, Belgium and Denmark, which showed positive variations between 3.5 per cent and 44.6 per cent in quantity, and between 2.5 per cent and 29.5 per cent in the revenue produced.

Sweden was highlighted by the negative variation, with decreases of 18.7 per cent and 40.7 per cent in quantity and value.

In the extra-community market, the United Kingdom stands out with increases of 82.2 per cent in quantities and 136.0 per cent in value.

Sales were down in the USA and Japan

On the negative side, the United States of America was down by 11.1 per cent and 15.8 per cent, with Japan revealing a mixed variation of -11.4 per cent and +2.1 per cent.

Of the total product sold in the first half, 76.1 per cent was bottled wine, sold on average at €8.58/litre. The remainder was sold at an average price of €2.80/litre. According to the IVBAM, this represented a rise of €0.06/litre compared to the same period in 2022.