04 Dec Wine exports hit highs not seen since 2021
The re-entry of Australian wine into mainland China has helped exports grow by 34% in value, reaching AU$2.39 billion in the 12 months to September 2024. Volume exports were also up by 7%, amounting to 643 million litres over the same period.
This represents the highest level of shipments by both volume and value since the period ending August 2021, and can predominantly be attributed to our re-entry into the Chinese market, as the value of Australian wine shipments to China increased by AU$604m to AU$612m over the 12-month period whilst volume shipments increased by 58 million litres to 59 million litres.
However, it is significant to note that these figures do not reflect current trends around sales or consumer sentiment, as they are likely due to the re-stocking of Australian wine. Therefore, it will be some time until we have an accurate gauge on how Chinese consumers are reacting to having Australian wine back in market.
Whilst this demand from China has helped counter balance the drop in demand from markets such as the US and Canada, it is still imperative that the industry pursues market diversification and further trade opportunities with other significant wine markets such as Hong Kong, UK, Belgium, Spain, France, Italy, New Zealand and more.
FOLLOW US FOR THE LATEST NEWS!
Sorry, the comment form is closed at this time.