Australia’s wine producers are enjoying wine exports not seen in a decade, as the value of their exported products increased by 5 per cent to A$2.78bn ($1.88bn) in the 12 months to March 2019, The average value per litre hit A$3.41, the highest level since 2009. This is despite volume falling slightly by three per cent.
“What we are seeing is a drop in volumes in the lower value categories and this places Australia well as the global consumer premiumises and drinks less but more expensive wines,” said Andreas Clarke, CEO of Wine Australia in a statement. He added that Australia had also grown its value in the Chinese market. “We are outperforming competitors, with the Global Trade Atlas figures showing that in the year ended February 2019, Australia had a 29 per cent share of the imported wine market – up from 26 per cent a year ago.”
The trends in the coveted US market are also good, with sales of Australian wine growing by three per cent in value to $521m in America’s off-trade market, to end December 2018.
Mr Clark said Australian wine supplies would remain tight in the short term with much of the 2018 vintage yet to hit the market and the expectation that 2019 vintage would be below the long-term average.
In the year ended March 2019, there was robust growth in most price segments with exports in higher priced categories recording the most significant growth, reflecting global premiumisation trends.
Source: Wine Australia