Growth spurt in Greek wine exports to Canada

Greek wine exports to Canada increased significantly in the first quarter of 2023 compared to the corresponding period last year, the National Vine and Wine Interprofessional Organization (EDOAO) announced.

According to the Consulate General in Toronto:

• Greek wine exports increased by 95% in value terms, exceeding 3.5 million Canadian dollars (1.8 million dollars in the first quarter of the previous year).
• The increase is 103% in Quebec and 113% in Ontario.

As you know, Canada is third best market for Greek wine and one of the target countries of the promotion programs implemented by EDOAO.

As Athens News previously wrote, domestic wine consumption in Greece increased by 41.3% in the 2021-2022 wine season. compared to the 2020-2021 season, approaching the high levels of 2013 and 2014, according to an industry survey of the wine industry prepared by Stochasis Management Consultancy. The share of wine in bulk (non-standard or bag-in-a-box) in the total volume of the domestic market is estimated at about 50%.

It is noted that the pandemic has negatively affected the hotel, restaurant and catering sectors, led to an increase in stocks of wine and measures to withdraw it. On the other hand, months of quarantine has led to a significant increase in purchases of wines for home consumption. The drawdown of wine stocks in 2021-2022 and the normalization of the market signaled an increase in wine consumption to pre-pandemic levels.

The average annual rate of change (ARR) of domestic wine consumption in the period 2013/14-2021/22 was marginally negative (-0.7%). Global wine consumption showed a slight increase (0.9%) in 2021 compared to 2020, due to the lifting of restrictions, the reopening of hotels, restaurants and bars, the resumption of social events and celebrations, according to the International Viticulture and Wine Organization.

Source link