In the first half of 2024
Madeira wine sales showed an 8.7% year-on-year decrease in value, despite a 3.0% increase in volume
According to data provided by IVBAM – Instituto do Vinho, do Bordado e do Artesanato da Madeira, IP-RAM, the "Madeira" wine sales amounted to approximately 1.6 million litres in the first six months of the year, resulting in first-sale revenues of 9.9 million euros. Compared to the same period last year, there was a 3.0% increase in volume and an 8.7% decrease in value.
In the referenced semester, commercialisation in the national market reached 321.1 thousand litres, generating approximately 2.7 million euros in revenue, of which 237.9 thousand litres and 2.1 million euros were from sales within the Autonomous Region of Madeira. Compared to the same period in 2023, national sales saw a year-on-year change of +1.2% in volume and -2.9% in value.
Exports to European Union countries amounted to 791.6 thousand litres, generating a revenue of 3.5 million euros, representing year-on-year increases of 11.6% in volume and 11.5% in value. Conversely, exports to Third Countries totalled 440.9 thousand litres, yielding a revenue of approximately 3.7 million euros, representing year-on-year changes of -8.5% in volume and -25.2% in value. This unfavourable performance in the non-EU market was the primary factor contributing to the overall decline in value.
Within the European Union (EU) markets, notable positive performance was observed in sales to the French market—continuing to be the most significant EU market—with year-on-year changes of +19.8% in volume and +21.6% in value, as well as the Belgian (+2.4%; +5.0%) and Dutch (+235.2% and +189.9%) markets. On the negative side, the second most significant EU market, Germany, experienced decreases of 28.5% in volume and 29.2% in value.
In the non-EU market, relevant performances were seen in sales to Japan (+6.1% in volume and -3.8% in value) and the United States (+0.4% in volume and -27.9% in value). However, sales to the United Kingdom, another important non-EU market, showed a significant drop (-36.6% in volume and -41.9% in value).
Of the total commercialised in these six months, 70.7% was bottled wine, sold at an average price of 7.82 euros/litre (8.58 euros/litre in the first six months of 2023). The remaining wine was sold in bulk at an average price of 2.88 euros/litre (an increase of 0.08 euros/litre compared to the same period last year).
Focusing on the second quarter of 2024, the "Madeira" wine sales reached 764.5 thousand litres, resulting in a first-sale revenue exceeding 5.1 million euros. Compared to the second quarter of 2023, there were decreases of 3.6% in volume and 7.6% in value.
DREM releases dashboard on the commercialisation of Madeira wine
Following this publication, an interactive dashboard on the commercialisation of Madeira wine is now available.