Finally some good news for the Australian wine industry.
In the 12 months ended September 2024, wine exports increased by 34% in value to $2.39 billion and by 7% in volume to 643 million litres, according to Wine Australia’s Export Report released today.
These are the highest levels of shipments by both volume and value since the 12 months ended August 2021.
Growth was driven largely by the re-entry of Australian wine exports to mainland China following the removal of import duties on Australian bottled wine in late March 2024.
The value of shipments to mainland China increased by $604 million to $612 million, while volume increased by 58 million litres to 59 million litres.
Wine Australia manager for market insights, Peter Bailey, said that “although the September quarter was smaller than the June quarter in both volume and value to China, it was still significant - totalling 27 million litres worth $214 million".
Of the 927 businesses exporting Australian wine to mainland China during the 12 months ended September 2024, the top 10 exporters by value contributed 68% of the total value and 38% of total volume.
“While the export figures to mainland China are very positive, the impact on total export value is much larger than volume due to the premium price point of most wine entering the market," Bailey said.
"As such, this increase is unlikely to reduce the oversupply of red winegrapes in the warm inland regions.
“It’s important to note that shipments in these first six months are likely to be characteristic of re-stocking Australian wine after a long absence.
"Export levels are not equivalent to retail figures, and it will take time before it is evident how Chinese consumers are reacting to having Australian wine back in market. Despite this recent growth in exports, it is increasingly important to pursue market diversification and defend our share in other wine markets.”
Exports to all other destinations were stable in value at $1.78 billion but declined in volume by 3% to 585 million litres.
“The most significant decline in volume was in exports to the United States, with nearly all the loss in volume (21 million litres) being unpackaged wine, following a surge in unpackaged wine to the market throughout 2022 and the start of 2023," Bailey said.
"Exports to Canada stabilised in value as the decline in unpackaged wine eased and exports with an average value of $7.50 and above increased by 28% in value.”
In Europe, growth in exports to the United Kingdom and Belgium more than offset declines to Germany, Denmark, and Spain - resulting in a small increase overall for the region.
The top five export destinations by value were:
“It’s important to note that shipments in these first six months are likely to be characteristic of re-stocking Australian wine after a long absence.
"Export levels are not equivalent to retail figures, and it will take time before it is evident how Chinese consumers are reacting to having Australian wine back in market. Despite this recent growth in exports, it is increasingly important to pursue market diversification and defend our share in other wine markets.”
Exports to all other destinations were stable in value at $1.78 billion but declined in volume by 3% to 585 million litres.
“The most significant decline in volume was in exports to the United States, with nearly all the loss in volume (21 million litres) being unpackaged wine, following a surge in unpackaged wine to the market throughout 2022 and the start of 2023," Bailey said.
"Exports to Canada stabilised in value as the decline in unpackaged wine eased and exports with an average value of $7.50 and above increased by 28% in value.”
In Europe, growth in exports to the United Kingdom and Belgium more than offset declines to Germany, Denmark, and Spain - resulting in a small increase overall for the region.
The top five export destinations by value were:
# China (up $604 million to $612 million)
# UK (up $9 million to $362 million)
# US (down $25 million to $341 million)
# Hong Kong (up $65 million to $270 million), and
# Canada (down $0.08 million to $147 million).
# UK (up $9 million to $362 million)
# US (down $25 million to $341 million)
# Hong Kong (up $65 million to $270 million), and
# Canada (down $0.08 million to $147 million).
For more information see Wine Australia’s Export Report
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