Production and Trade of Port Wine: Temporal Dynamics and Pricing
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This paper examines the productive and trade dynamics of Port wine and the impact
of wine aging on price. The main results show that, after World War II, the economy
founded on Port wine is characterised by a general tendency for growth, leading to
positive economic impacts on both grape growers and Port traders. Nonetheless, data
from the last decade points to a relatively long negative phase of the business cycle. The
annualized return rate of 5% on storage that was obtained for old Port wine, indicate
that this is an asset attractive enough to be included in any investment portfolio.