In the first nine months of 2024

Madeira Wine sales decreased by 8.9% in value year-on-year, despite an increase of 1.5% in volume

According to data provided by IVBAM – Instituto do Vinho, do Bordado e do Artesanato da Madeira, IP-RAM, in the first nine months of 2024, the Madeira Wine sales reached approximately 2,175.7 million litres, generating first-sale revenues of around 14.4 million euros. Compared to the same period last year, there was a 1.5% increase in volume but an 8.9% decrease in value.

Between January and September 2024, sales in the Portuguese market amounted to 454.2 thousand litres, yielding 4.1 million euros (-0.4% in volume and -1.0% in value compared to the same period last year), of which 352.2 thousand litres and 3.3 million euros came from sales within the Autonomous Region of Madeira.

Exports to European Union countries totalled 1.1 million litres, generating 4.8 million euros, representing year-on-year changes of +3.7% in volume and +1.3% in value. In contrast, exports to third countries reached 650.2 thousand litres, with revenues of 5.5 million euros, reflecting decreases of -0.6% in volume and -20.6% in value.

Among EU countries, notable increases were observed in the Austrian and Dutch markets. Sales to France, which remains the most important market within the EU, also grew, with changes of +9.7% in volume and +8.5% in value, respectively. On the negative side, Germany saw decreases of -19.3% in volume and -11.3% in value.

In non-EU markets, among the three most important, Japan showed the least negative performance, with a mixed result: an 8.5% increase in volume but a 7.0% decrease in value. The significant declines in sales to the United States (-5.4% in volume and -27.9% in value) and the United Kingdom (-21.7% in volume and -32.9% in value) were crucial in driving the overall reduction due to their market size.

Of the total commercialised over these nine months, 74.6% corresponded to bottled wine, sold at an average price of 7.93 euros per litre (compared to 8.81 euros per litre in the same period of 2023). The remaining wine was sold in bulk at an average price of 2.85 euros per litre (an increase of 0.03 euros per litre year-on-year).

Focusing on the third quarter of 2024, the Madeira Wine sales reached 622.1 thousand litres, generating first-sale revenues of around 4.5 million euros. Compared to the same period last year, there were declines of 2.0% in volume and 9.1% in value, respectively.

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