Aussie wine exports lift in 2014

The falling value of the Australian dollar helped lift wine exports to a seven-year high in 2014, with demand for premium labels increasing.

Barossa Valley Cellar Doors, Charles Melton Wines

A lift in demand for premium wines has helped boost Australia's wine exports to a seven-year high. (AAP)

A lift in demand for premium wines has helped boost Australia's wine exports for the first time since 2007.

Figures released by the Australian Grape and Wine Authority on Wednesday show exports rose by 1.9 per cent in both volume and value terms during 2014.

The falling value of the Australian dollar helped lift export volumes to 700 million litres.

The lift in value to $1.82 billion was partly driven by demand for premium wines - above $7.50 per litre - in North America, Europe and much of Asia.

Premium wines - and especially ultra-premium wines priced above $50 - experienced the strongest growth throughout the year.

"It's encouraging to see the value of Australian wine exports in positive growth for the first time since 2007, and increasing demand for our premium wines was a major contributing factor to that growth," AGWA acting chief executive Andreas Clark said.

The United Kingdom was the biggest export market by volume, taking mostly bulk wine destined for Europe.

In the United States, demand for premium wine lifted as the improving economy and more buoyant stock markets resulted in consumers having more money.

But the export of cheaper bulk wine to the US fell because two consecutive record US grape harvests had reduced demand for imported wine.

Exports to China rose, with bottled exports almost recovering to levels recorded before the Chinese government introduced austerity measures in late 2012.

More than 90 per cent of Australia's ultra-premium wine exports went to Asia.


Share

2 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world