by Meininger’s Wine Business International
According to the Federación Española del Vino (FEV), Spanish wine exports are continue to rise. Over the first ten months of 2007, volume was up 4.3% over the same period last year to 1.24 billion litres. More importantly for the
producers, value rose 12% to €1.47b (US$2.2b). Although this works out to an average price of only €1.19 per litre, it represents a 7.3% increase over the €1.11 registered last year.
The two major markets for Spanish wine are the United States and Great Britain, which account respectively for 15% and 13% of total volume.
Although this is encouraging news for the wine trade, Spain still producers far more wine than it can drink or sell. When subsidies and crisis distillation in the European Union draw to a close in 2015 a day of reckoning will come that threatens to undermine many of the advances the country has made since the turn of the century.
