Chinese uncork our wine
A THIRST for premium Australian wine has driven growth in the value of wine exports at the fastest rate in 15 years, figures show.
Overseas sales jumped 20 per cent to $2.76 billion in 2017-18, with China, where 40 per cent of exports are bought, the biggest contributor, according to data from industry body Wine Australia.
The sector also recorded its highest average value for wine since 2009, with an increase of 9 per cent per cent to $3.24 per litre.
But the value of exports to the US — the world’s largest wine market — fell 8 per cent to $424 million, with the volume of Australian wine sold to the US falling 11 per cent.
Wine Australia chief executive Andreas Clark says the focus will be on improving sales in the US.
“The premium end of the US wine market is enjoying robust growth, as are Australian exports in nearly all price points above $10 per litre,” Mr Clark said.
“We’re working to accelerate this growth in demand through a marketing push supported by the Australian Government’s $50 million export and regional wine support package.”
Wine Australia says the overall growth of overseas sales was due to a 15 per cent increase in active exporters over the year.
Export sales of wines priced between $20 and $29.99, as well as those priced between $50 and $99.99, grew by 80 per cent.
Australian wine exports increased in value in almost all regions over the last year: Northeast Asia 51 per cent increase to $1.2 billion; Europe 7 per cent rise to $608 million; Southeast Asia, 3 per cent to $168 million; Oceania, up by 15 per cent to $99 million; the Middle East up by 39 per cent to $30 million; and, North America down 4 per cent to $624 million.