26 Jul 2019
Wine Australia, an Australian government authority, has confirmed that Australia is benefitting from exports as Australian wine has increased in worth. Wine exports are now valued at $2.86 billion, rising by 4% in June YoY. The rise came about regardless of a 6% drop in exports.
As exports to the U.S. went back up by 2% reaching $432 million, China kept its place as Australia’s biggest buyer, with sales growing more by 7%, reaching $1.2 billion. China’s top three countries for export volume are Chile, France and Australia.
In addition, Wine Australia chief executive Andreas Clark stated that the first in the first 5 months of 2019, Australia was ranked first in terms of importing into China, out-taking France. He explained, ‘The strong growth in average value is positive for the wine sector and the broader economy as it lifts returns for wine businesses and flows through to regional economies through higher grape prices.’
The value of the Australian wine in the UK went down by 3% to $373 million as volume of exports also dropped by 4% to 236 million litres. Clark added on to explain how Brexit gave Australian producers new challenges. Moreover, he said, ‘Research by IRI shows Australia was ranked number 1 in still wine off trade [retail] sales in the 12 months ended March 2019, with a market share of 24% in volume and 23% in value [in the UK].’