14 Mar 2017
Cork wants to maintain US leadership
2016 marked a new record in exports of cork derivatives, as the sector guaranteed 7.5% of the increase in national exports.
The latest cork numbers in Portugal continue to underline the success of the sector, especially in the conquest or consolidation of international markets. In 2016, according to data from INE - National Statistical Institute and APCOR - the Portuguese Cork Association, sales of cork derivatives reached 937.5 million euros, as compared to 901 million euros in 2015. Exports to 133 markets reached about 95% of sales. Among these markets, the United States and the United Kingdom assume, for different reasons, a prominent role in Portuguese exports that, according to APCOR, should not be affected by the recent political and economic changes these countries are undergoing.
According to the president of APCOR, João Rui Ferreira, the United States has always deserved special attention, and the possibility of changing the paradigm of a circular and sustainable economy is worrying, forcing the sector to strengthen its attention. The US is one of the leading target markets where the industry has "enormous ambition," and so the focus is on finding ways to maintain that leadership. "As far as the so-called isolationist policy is concerned, we believe there will an effort towards establishing the best agreements, and we look forward to the development of these issues. We believe that Americans will continue to regard cork as their preferred product", concludes the official.
The United Kingdom is mainly seen as a major prescribing and influencing market in the wine world of other geographies, such as South Africa, Chile and Australia. The United Kingdom is the world's second largest importer of wine, both in terms of volume and value, which in itself justifies the expectation of future trade agreements. APCOR assures that the industry is "firmly convinced" that the UK investment in terms of promotion and communication will play a significant role in enhancing the image of cork stoppers with the consumer. "The added value that cork can bring to a bottle of wine, combined with its environmental and technical credentials, make it a choice stopper, "concludes João Rui Ferreira.
According to APCOR, between 2016 and 2018 the total backing for promotion will amount to € 7.8 million (85% being investment from Compete 25). The United Kingdom will receive EUR 1 million in investment, in order for Portuguese cork to recover its markets of South Africa, Argentina and Chile, while the US will receive two million euros, as it is a market with great added value, where wine priced above seven dollars a bottle represents 43% of business and is the fastest growing. China will receive 600,000 euros, while in a traditional market like France, the investment will amount to one million euros, in what is the world's largest market for cork stoppers.
The latest cork numbers in Portugal continue to underline the success of the sector, especially in the conquest or consolidation of international markets. In 2016, according to data from INE - National Statistical Institute and APCOR - the Portuguese Cork Association, sales of cork derivatives reached 937.5 million euros, as compared to 901 million euros in 2015. Exports to 133 markets reached about 95% of sales. Among these markets, the United States and the United Kingdom assume, for different reasons, a prominent role in Portuguese exports that, according to APCOR, should not be affected by the recent political and economic changes these countries are undergoing.
According to the president of APCOR, João Rui Ferreira, the United States has always deserved special attention, and the possibility of changing the paradigm of a circular and sustainable economy is worrying, forcing the sector to strengthen its attention. The US is one of the leading target markets where the industry has "enormous ambition," and so the focus is on finding ways to maintain that leadership. "As far as the so-called isolationist policy is concerned, we believe there will an effort towards establishing the best agreements, and we look forward to the development of these issues. We believe that Americans will continue to regard cork as their preferred product", concludes the official.
The United Kingdom is mainly seen as a major prescribing and influencing market in the wine world of other geographies, such as South Africa, Chile and Australia. The United Kingdom is the world's second largest importer of wine, both in terms of volume and value, which in itself justifies the expectation of future trade agreements. APCOR assures that the industry is "firmly convinced" that the UK investment in terms of promotion and communication will play a significant role in enhancing the image of cork stoppers with the consumer. "The added value that cork can bring to a bottle of wine, combined with its environmental and technical credentials, make it a choice stopper, "concludes João Rui Ferreira.
According to APCOR, between 2016 and 2018 the total backing for promotion will amount to € 7.8 million (85% being investment from Compete 25). The United Kingdom will receive EUR 1 million in investment, in order for Portuguese cork to recover its markets of South Africa, Argentina and Chile, while the US will receive two million euros, as it is a market with great added value, where wine priced above seven dollars a bottle represents 43% of business and is the fastest growing. China will receive 600,000 euros, while in a traditional market like France, the investment will amount to one million euros, in what is the world's largest market for cork stoppers.
Source:
In, Jornal de Negócios