Madeira wine sales increase in quantity but decrease in revenue

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The sale of Madeira Wine reached 789 thousand liters and earned 4.8 million euros in the first quarter, representing an increase of 10.3% in quantity and a decrease of 9.9% in value compared to the same period last year, it was announced today.

Based on data provided by IVBAM – Madeira Wine, Embroidery and Handicrafts Institute, the Regional Statistics Directorate (DREM) indicates that 149,000 liters were sold on the national market, earning a value of 1.2 million euros, “of which 102,900 liters and 0.9 million euros are from sales made in the Autonomous Region of Madeira”.

Sales in Portugal between January and March fell in both quantity (-12.5%) and value (-18.8%).

On the other hand, exports to European Union countries amounted to around 383,800 liters, “generating a value of 1.7 million euros, which represents an increase in volume and value of 16.5% and 19.4%, respectively,” says the DREM.

Meanwhile, the regional authority adds, exports to the non-EU market were close to 256,300 liters, for a total of 1.9 million euros, 18.7% more in quantity and 22.5% less in revenue than in the same period last year.

In the European Union countries, the French market stands out positively, “which continues to be the most important market in the EU as a whole, with year-on-year variations of +23.2% and +24.8% in quantity and value, respectively, as well as the Dutch (+409.9%; +274.5%) and Swedish (+30.5% and +57.2%) markets”.

“On the downside, the performance of the second most important market in the EU as a whole, Germany, is noteworthy, as it fell by 34.8% and 29.4%, in the same order, in terms of quantity and value,” says the information sent out by the Regional Statistics Directorate.

In the non-EU market, the biggest increase in sales was in Japan (+21.4% in quantities and +4.2% in value), while in the United States the downward trend was more pronounced (-29.1% in quantities and 63.5% in value).

“In fact, it should be noted that the sharp drop in value of sales to the North American market (-63.5%) was a determining factor in the overall change in the value of Madeira wine sold (-9.9%),” says the DREM.

According to the regional directorate, “while in the first quarter of 2023 each liter of bottled Madeira wine was sold to the US at €19.06, in the first quarter of 2024 that average fell to €9.82, because in the wine exported to that country in the first quarter of 2023, the amount of wine marked ‘frasqueira’ (wine of exceptional quality – wine with indications of the vintage year and the recommended grape variety), therefore with a higher value, was much higher than in the same period of 2024.”

Hervé Hubert
Hervé Hubert
Hervé Hubert is a 55-year-old writer and journalist based in Porto, Portugal. Born in France, he brings a unique blend of French and Portuguese perspectives to his work. Education Hervé studied Journalism and Literature at the University of Lyon in France. After completing his studies, he gained valuable experience working with various French media outlets (Portugal France also). Career He worked for several years as a journalist in France before making the move to Portugal. In Porto, he joined the Portugal Pulse team as a staff writer. Skills Hervé specializes in storytelling, investigative journalism, and cultural commentary. He has a flair for capturing complex issues in a relatable way. Personal Life He currently resides in Porto and enjoys the city's rich culture, from Fado music to Francesinha cuisine. Hervé continues to maintain strong ties to his French heritage, often traveling back to France for family visits and cultural exploration. With his unique background and diverse skill set, Hervé Hubert adds a layered, multicultural lens to every story he covers.

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