In the centuries-old cork forests of southern Portugal, locals who for generations have harvested the bark that bungs billions of bottles around the world don't think much of the rival plastic stoppers and metal screwcaps threatening their livelihoods. "Cork is a safer bet," says Joao Simoes, a 64-year-old, as he peels the bark off a cork oak — a job he's been doing for the past 40 years. "It seals [bottles] better." Some of the world's leading winemakers disagree. Since the turn of the century they have used more and more alternative stoppers in an unprecedented threat for the economy of Portugal, the world's largest cork producer and one of western Europe's poorest countries. Makeover Article continues below The competition compelled Portuguese cork companies, accustomed to a long-standing near-monopoly, to embark on a do-or-die makeover. Now, producers say, their modernisation and diversification programme is paying off. They say they have checked the steep drop in the market share for cork stoppers, holding it at around 70 per cent for the past two years. And last year cork exports improved for the first time in a decade with growth of more than 8 per cent, according to National Statistics Institute. "For the first time in 250 years, the cork industry was actually challenged," says Antonio Amorim, chairman and CEO of Amorim, Portugal's oldest and largest cork company. "We would like to ... think that the worst times for the cork industry are behind us."
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: RajoyMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor