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Australian wine exports continue to grow in value in China

www.winesinfo.com by Wine Australia22/07/2019  

The value of Australian wine exports has continued to grow in the last 12 months up to June 2019,increasing by 4 per cent in value to $2.86 billion. China has welcomed this sustained growth with recordnumbers, increasing 7 per cent in value to $1.2 billion.

Export volumes decreased by 6 per cent to 801 million litres (89 million 9 litre case equivalents); thisvolume decline was driven by a decrease of 7 per cent in shipments below an average value of $2.50 per litre free on board (FOB*). This resulted in a 10 per cent increase in the overall average value ofexported wine to $3.58 per litre, the highest level since 2009.

Wine Australia Chief Executive Officer Andreas Clark said the growth in value and the declines involume at that lower end of the price spectrum was positive news to the sector that has been focusingstrongly on growing value rather than volume.

Australia is well-placed in China. Looking at the first five months of 2019, Australia has become thenumber one imported wine category in mainland China by value. Despite the overall wine imports into China were down 22 per cent in volume, Australia’s imported market share has jumped 13 percentage points since 2015 to 24 per cent. Australia has consolidated its position as a key provider of premiumand fine wines to the Chinese market.

Mr Clark said Australian wine exports to China(including Hong Kong and Macau) had reached a financial year record, increasing 7 per cent in value to $1.2 billion. Volume, however, decreased 16 per cent to 154 million litres (17 million 9-litre case equivalents)

as exports of wines below $2.50 per litre FOB declined.

‘The strong growth in average value is positive for the wine sector and the broader economy as not only

does it lifts returns for wine businesses and flows through to regional economies through higher grapeprices. Our National Vintage Report 2019 released last week shows that the average grape price has lifted for the fifth year in a row, reaching $664 per tonne, the highest level since 2009’, Mr Clark said.

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Mr Clark concludes by noting Australian wine supplies would remain tight in the medium term with last week’s National Vintage Report revealing that the 2019 vintage was 1.73 million tonnes, just one per cent below the 10-year average. This means that supplies, particularly of reds that dominate Australian exports will continue to remain stable.

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