28-07-2020 - In the 2nd quarter 2020, the commercialisation of “Madeira” Wine had a sharp year-on-year drop in both quantity and value

In the 2^nd quarter 2020

Commercialisation of “Madeira” Wine had a sharp year-on-year drop in both quantity and value

According to data provided by the Madeira Wine, Embroidery and Handicraft Institute, P.I., the commercialisation of “Madeira” wine stood at 613,547 litres, generating first sale receipts of 2.8 million euros. When compared with the corresponding period of 2019, the quantities sold decreased by 26.1% and the sales value by 40.8%, reflecting the effects of the COVID-19 pandemic.

In the first half of 2020, the sales volume decreased by 15.3% and receipts declined by 18.5% year-on-year. Exports to third countries (-16.7% in volume and -11.5% in value) and to European Union countries (-2.9% in quantity and -7.6% in first sale receipts) dropped year-on-year. The local market also showed a decrease (-48.1% in volume and -44.4% in value).

Nevertheless, it should be highlighted that exports to Sweden recorded year-on-year increases of 80.3% in volume and 56.9% in first sale receipts. There was also a growth in the exports to China (+37.9% in volume and +90.4% in value).

Regarding the top two profitable foreign markets – France and USA – the data show in the first case a year-on-year increase on first sale receipts of 1.2% and in the second case a decrease of 32.8%.

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