Portuguese wine production for the 2023/2024 campaign is expected to reach a volume of 7.4 million hl, an 8% increase year-on-year, according to forecasts by the Instituto da Vinha e do Vinho (IVV).
All wine-growing areas of Portugal are expected to see growth, in particular the Douro Valley region, with an estimated volume increase of 10%, to 1.6 million hl (+146,000 hl).
The same percentage increase is also expected for the important wine regions of Lisbon (up to 1.3 million hl), Tejo (up to 755,000 hl) and Setubal (up to 550,000 hl).
The region with the greatest forecast percentage increase is the Azores, which is expected to see volumes up 165% up – albeit from a lower base – to 12,000 hl.
First-Half Exports
Portuguese wine exports in the first half of 2023 reached €447.6 million in value, 158.3 million litres in volume, sold at an average price of €2.83 per litre, according to data from the ViniPortugal association.
When compared to the same period in 2022, this is an increase of 3.4 million litres in volume terms, €16.8 million in value terms, and €0.05 in the average price per litre.
The sector saw growth in wine exports to the UK (€13.3 million), to Brazil (€6.1 million), and to Angola (€4 million).
If port wine is excluded, exports increased in volume by 3.2 million litres (+2.44%), by €12.2 million in value (+4.09%) and by €0.03 in the average price (+1.61%).
'Normalisation Of The Market'
According to the president of ViniPortugal, Frederico Falcão, the growth "can be explained by the increase in available raw material and a normalisation of external markets."
He added that the growth was above expectations and, if this pace is maintained, Portuguese wine exports will close the year with very positive results.
