Wine exports from the province of Cadiz have touched 48
million Euros up to August, and nearly all of that is Sherry. Spain may now be
officially out of recession (tell that to the unemployed of Andalucia!) but the
economy depends on exports, as the domestic market is still in decline. If
there is one thing that characterises the Sherry business, however, it is
exports – 4 out of every 5 bottles sold are exported.
Sherry prices have risen recently in line with trade policy,
allowing revenues to rise, though volumes have slipped a bit. This is also in
line with policy: to sell better wine in smaller quantities, concentrate on
bodegas’ own brands and try to cut down on the unprofitable BOB (buyers own
brand – supermarket) trade, although it is still very important.
The main export markets spent: UK 15.6 m Euros (down 8%),
Holland 6.8m (up 0.6%), Germany 5.4 m (up 1.4%), USA 5.3 m (up 41%!), France,
Belgium, Mexico and Canada @1.5m, and Denmark and Japan @ 1m.
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