Newsletter March,2024,03


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Greek wines commanding higher prices in world export markets

Amid an ever growing appreciation by consumers worldwide, Greek wines are steadily commanding higher prices in overseas markets underscoring the increasingly premium quality of the country’s vintages and helping to support the overall value of Greek wine exports.

In the last year, the price of Greek wine increased between 3.6% and 5.8% on average across the country’s major export markets inside and outside the European Union. That included a 12.7% price jump in Greek wine exports to France – one of Europe’s most sophisticated wine markets – and a 6.4% price increase in Greek wine exports to the U.S., one of the world’s fastest growing and most competitive wine markets.

The data, derived from official statistics by Greece’s Central Cooperative Union of Wine Products (KEOSOE), also show that Greek wine exports to Germany – Greece’s single biggest export market and accounting for more than half of Greek wine exports – rose to €2.71 per kg last year, up 6.4% from €2.55 in 2022. Overall, the rising prices commanded by Greek wines worldwide surpassed the average price increase over the previous five years, confirming the premium trend in Greek wine production.

Greece’s wine industry has been undergoing a transformation with the entry of hundreds of new vintners and a growing appreciation for Greek wines abroad. Four Greek wineries are among the world’s top wineries listed by Wine & Spirits Magazine, while leading international media, like the New York Times, have favorably reviewed Greek wines in recent years.

The Greek presence at this month’s ProWein exhibition in Düsseldorf, Germany, the world’s largest wine and drinks trade fair, included more than 100 wineries and distilleries. The national pavilion, organized by Enterprise Greece, hosted 84 winemakers and spirits producers, who participated separately or with the support of the regional authorities of Eastern Macedonia and Thrace, Attica, Western Greece, Epirus, Thessaly, Crete, the Peloponnese and Central Greece.