New Zealand wine exports are on course to meet a target of $2bn by 2020, according to new industry figures. Who is buying all of the wine?
Exports of New Zealand wine rose by 10% in value to reach nearly NZ$1.6 billion in the year to 30 June, said New Zealand Winegrowers.
Extra wine from the 2016 vintage is expected to boost export volumes by a tenth over the next year, the trade body added.
Steve Green, NZ Winegrowers chair, said the latest figures show that exports are ‘well on track’ to hit the target of $2bn by 2020.
See the top five destinations for New Zealand wines by value, and their performance in the 12 months to 30 June:
Demand from the US has propelled New Zealand exports forward in the past year.
Exports to Australia stalled, but Green said that producers were forced to allocate supplies to the most profitable markets.
See the next three biggest export destinations after the Netherlands in fifth position:
Sauvignon Blanc made up around 86% of exports by volume in the past year, NZ Winegrowers said.
The trade body sounded a note of caution over Brexit; the UK’s referendum vote to leave the European Union.
New Zealand and the EU have been discussing a free trade agreement.
‘Wine exports to the EU are valued at over $500 million, and the benefits for our sector from a robust deal with the EU are obvious,’ said Green.
‘Brexit has clearly complicated matters, but our ambition to improve access into both the EU and UK markets is not diminished by this development.’
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