The first semester of 2012 has brought the unwelcome news that Sherry sales in Germany, the 3rd biggest export market, have plummeted by 32 % (2.4m litres down to 1.6m litres). This wipes out the slight growth in markets such as the UK, the biggest export market at @ 4m litres - up 1%), Holland (up 4% to 3.5m litres) and Japan, up 10%. So sales are down on aggregate by about 5%.
Sherry is an export wine with well over 60% going abroad. The Spanish market is about 35% or 6.5m litres - down 1%, with sales in Europe accounting for some 60%. Many feel that the market has bottomed out and that sales can only grow, especially since the recent uprooting of vineyards has supposedly brought supply and demand into balance. We can only hope so.
Other news:
The King, Don Juan Carlos was in Puerto de Santa Maria the other day to celebrate a bullfight on the occasion of the 200th anniversary of La Pepa (the Cadiz Constitution of 1812). Security was tight. In case he fell?
More:
Antonio Fernandez, ex President of the CRDO Jerez, in custody for involvement in the ERE scandal, has been released on payment of 450,000 euros in bail. He is one of about 60 people involved. While this had nothing to do with his CRDO duties, he resigned, and has been replaced by Beltran Domecq.
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