World–Renowned Port Producing Family Confirms Recently Published IVDP Data
SAN FRANCISCO, Calif., January 27, 2012 - Symington Family Estates, the Oporto, Portugal based wine company that includes the famous independent Port houses W. & J. Graham’s, Cockburn’s, Dow’s, Warre’s, in addition to Smith Woodhouse, Quinta do Vesuvio, Gould Campbell, Quarles Harris and Martinez, is reporting increased Port sales in the United States for 2011 across the premium category. Sales trends within the family’s portfolio are in line with the especially strong trends reported by the Portuguese governmental organization, IVDP (Instituto dos Vinhos do Douro e Porto). IVDP figures on total exports, by market, for 2011, show United States sales up 8% and the premium Port category up 15%; making the United States the fifth largest market in total volume (404,000 cases) and the second largest premium market (232,000 cases) after the United Kingdom (527,000 cases).
The breakdown of the IVDP premium category explains the 15% increase. The aged tawny category was especially buoyant: 10 Year Tawny up 17%, 20 Year Tawny up 20%, 30 Year Tawny up 40%, 40 Year Tawny up 25%. The most prestigious category, Vintage Port, increased 41%, while Reserve Port, the largest premium category by volume in the USA, was up 1.5%.
Rupert Symington, Joint Managing Director of Symington Family Estates notes, “There have been some recent articles claiming that Port is in decline in the United States, yet actual numbers indicate a very different picture. Coming out of the 2008 / 2009 recession Port has done very well in the USA, especially the premium category.” Among the different styles of Port, “premium” encompasses Reserves, LBV, Vintage and Aged Tawnies. These wines typically retail from $15 a bottle for a Reserve Port to over $100 a bottle for a great Vintage Port. Peter Scott, President of Premium Port Wine, Inc. (Symington Family Estates’ US Importer), is confident that the premium category will continue to grow in the US, “Port is a sophisticated drink with a flavor profile that is in tune with the US palate.”