|
Australia exports slump
July 7, 2008
Chris Snow in Adelaide
Australia's wine exports slumped last year – the first decrease in volume and value for 14 years.
At the same time the average price of a litre, in the financial year 2007-08, went up slightly. This was because the decreases were driven by a substantial decline in unprofitable bulk wine shipments.
The Australian Wine and Brandy Corporation said the drop in bulk wine was because of better balanced supplies following a light 2007 grape harvest.
A marked increase in the value of the Australian dollar against the currencies of the country's two main markets – the US dollar and sterling – had also contributed to the decreases.
Shipments for the year totalled 702.1m litres, down 12% on the previous year. Value was 11% lower at AUS$2.657bn.
The average price for each litre of wine exported increased 1% to AUS$3.78.
Of the two major markets, the UK lost 5.7% in volume and 10.1% in value. That is, 265.9m litres worth AUS$876.5m.
US shipments decreased 22.5% in volume and 18% in value, dropping to 180.7m litres worth AUS$741m.
Demark recorded the biggest increase in volume and value because, the AWBC said, it is a major packager of bulk wine for Europe and because the Australian dollar had been relatively stable against the Danish kroner.
Have your say...
To post your comment on this story, email us at news@decanter.com, making sure the relevant headline is in the subject field
|
|
Register on decanter.com absolutely free for news alerts delivered direct to your email inbox, and our fortnightly newsletter with advance notice of what’s coming up in Decanter magazine, offers, competitions and more.
PLUS registration is a one-stop shop for the Decanter magazine Archive and Decanter Fine Wine Tracker. |
Search for similar news stories
Back to index
|
