Tuesday, 12 November 2013
11.11.13 Sherry Exports
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.