PORTUGAL: Vinho Verde exports to hit new record - forecast
Vinho Verde exports this year will rise, but domestic sales will fall, according to forecasts
Exports of wines from the Vinho Verde PDO in Portugal are set to hit a record high this year, despite a forecast dip in domestic sales.
Exports from the Protected Designation of Origin region in 2013 should hit EUR40m (US$54.1m), the Comissão de Viticultura da Região dos Vinhos Verdes (CVRVV) said earlier this week. This result, according to CVRVV president Manuel Pinheiro, will ensure that 2013 is the “best year ever” in terms of Vinho Verde exports and around 15% better than the export result achieved in 2012.
Domestic sales of Vinho Verde wines, however, are expected to drop by around 5% from 2012.
Exports will earn producers 39% of their total revenue, “primarily from the US, Canada and Germany,” said Pinheiro. “These strong economies helped us to compensate for the difficulties [we face] in the domestic market.”
The total Vinho Verde wine inventory on 30 September amounted to 35.7m litres.
Vinho Verde is the biggest PDO in Portugal.
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