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Surge in wine exports coming to an end
5 Aug 2004
The Australian Bureau of Statistics said the value of total wine exports for the 2003-2004 financial year was $2.47 billion, a new record. But it was just $48 million up on the 2002-2003 financial year, when exports soared 15 per cent to $2.42 billion. Exports grew on average more than 10 per cent a year for the previous decade.
The US is now the biggest importer of Australian wine, buying $90.9 million of whites and reds in June; the UK accounted for $76.8 million in sales.
The fall in the value of exports came despite an 11.5 per cent increase in the quantity of wine sold overseas. The ABS said there was a fall in the unit price value of wine during the past two years, from more than $5.10 per litre to $4.10 a litre in May.
Domestically, wine sales slipped 4.6 per cent in June. White wine sales fell four per cent to 17.2 million litres, while red and rose sales dropped 6.8 per cent to 12.0 million litres. Red and rose sales were 1.9 per cent down on June 2003, while white wine sales were 0.2 per cent ahead.
Despite a fall in the total quantity of wine exported, the value of Australian wine exports climbed 5.6 per cent to $239.1 million for June.
Tradingroom.com.au, 4/8/04.
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