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VINHO VERDE COMPANIES EXPLORE THE NEW YORK MARKET THAT GROWS 30%

16 March 2016
VINHO VERDE COMPANIES EXPLORE THE NEW YORK MARKET THAT GROWS 30% Vinho verde companies explore New York market that grew 30% in 2015
About 20 vinho verde companies will be at the USA Trade Tasting on Monday and Tuesday, one of the most important buyers’ fairs in the industry taking place in New York, seeking to exploit a market that grew 30 percent in 2015.

"We think it is the largest presence of a wine region around the world in the event," Bruno Castro Almeida, head of marketing at the Vinhos Verdes Winemaking Commission, told Lusa.

The sale of vinho verde to the US grew 30.21 percent in 2015, going from around 10 million euros to 13.06 million.

"The growth has been spectacular in the last 15 years. Since 2008, the US is the number one export destination for Vinho Verde," he said.

At a global level, exports also performed positively, but remained at a growth of 10 percent, reaching 54.81 million euros.

"Vinho Verde is now exported to more than 100 countries and is a leader in the export of non-liqueur wines with controlled denomination of origin. These exports generate a business of around 55 million euros, with the United States and Germany in the top markets, "added Bruno Castro Almeida.

The growth of these wines accompanies a very positive movement of Portuguese exports for the country, as noted by the director of the AICEP's New York office, Rui Boavista Marques.

"Vinho verde is just one of the products that has the US as the main export market, but there are others," he told Lusa Boavista Marques.

Explaining that "the context is very favorable" for Portuguese companies, the official says that "at 2015 the US has become the main Portuguese export market outside the European Union."

"Exports have more than doubled in six years, from € 1bn to € 2.5bn in 2015, and the rate of coverage of exports by imports was 266%," says Boavista Marques.

The 18 companies present at the event are: Adega de Guimarães, Ponte de Lima Winery, Agri-Roncão - Quinta de Linhares, Anselmo Mendes Vinhos, Casa da Tojeira, Vila Nova House, Reguengo Manor House, Quinta da Calçada, Quinta da Lixa, Quinta da Raza, Quinta de Covela, Quinta de Lourosa, Soalheiro, Serrade Manor House, Vercoope, Vinho Verde Young Projects, Viniverde - Cellar of Ponte da Barca and Encosta do Xisto.

The Vinho Verde Winemaking Commission has already had promotional initiatives in the US market, including bringing more than 35 producers, but this will be the first participation in a fair aimed at buyers in the country.
Source: Sapo 24
 

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