Wine production in Portugal is expected to reach 650 million liters in the next harvest, representing a 12% increase compared to the previous year. Francisco Toscano Rico, president of the Vine and Wine Institute (IVV), stated that this recovery is occurring in counter-cycle with the European trend, where production across Europe points to an 11% decline. Despite the growth, Portuguese production remains below the five-year average.
The harvest started earlier this year due to favorable weather conditions, beginning in July in the warmer regions and extending into early October in the cooler areas. The president of IVV highlighted that the quality of the wine produced this year is excellent.
Regarding sales, the sector faces a decline in global consumption, exacerbated by geopolitical instability and the impact of tariffs on trade. Portugal is not immune to this trend, although it has shown superior resilience compared to other European countries combined. The sector exports wine to 150 countries.
IVV is looking at new markets as a way to offset the pressure on traditional destinations. Toscano Rico considered the trade agreements with India and Mercosur a fantastic opportunity, highlighting in particular the Brazilian market, which could reinforce the presence of Portuguese wines and create new opportunities for the sector.
