Chile's wine exports soar
November 27, 2007
By Jimmy Langman
Chile's wine exports have reached record levels in both value and volume, according to new statistics from industry association Wines of Chile.
The value of wine exported has surpassed US$1.1b (£0.5bn), an increase of 30% over 2006.
'Chilean wineries are overcoming difficult problems with the weakening dollar by selling more wine in terms of both value and volume,' Wines of Chile President Rene Merino told decanter.com.
In the last year, Chile has sold 335m liters (37.2m cases) – 8m to the UK, the biggest growth market. The average price fetched for Chilean wine is up 5.4 percent, an indication of a higher demand for premium wines. Bulk wine exports are also up – by 38%.
Merino also attributed the unusually high export figures in part to the drought in Australia, but said such growth was unlikely to continue due to a decline in domestic investment in the wine industry.
'The decline in the dollar, combined with recent increases in labour and energy costs has stalled investment in Chile,' he said. 'Without it, our growth rate will slow down.'
Chile current exports 70% of its wine.
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