Portugal’s cork industry, which is being greatly affected by the current crisis, is facing the most difficult times ever. Suberus, Portugal’s second largest cork manufacturer is on the brink of bankruptcy according to media reports published this past week.
Five years ago, Suberus, which comprises three factories, two in Santa Maria da Feira and one in Ponte de Sor, exported eighty million euros of cork. Last year the company exported just 25 million euros of cork, though was still Portugal’s second largest company, preceded only by the Amorim group.
According to a spokesperson for Suberus, “Our problem is the sector’s problem. The market has simply seized to exist”.
Production has been further hindered by the dwindling interest of the Australian market.
Suberus’ representative said “Around 70 per cent of our sales were to the Australian market, which five years ago consumed €500 million worth of natural cork bottle stoppers but which today spends just €200 million on cork, 60 per cent of which is for champagne bottles”.
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