Australia’s best wines achieve record value in 2016
This is the highest average value since 2009, according to the Wine Australia Export Report December 2016.
This value growth was driven by bottled exports, particularly those at higher price points.
Bottled exports grew by 10 percent to $1.8 billion. The average value of bottled exports hit a calendar year record, up by 5 percent to $5.48 per litre FOB.
Wine Australia CEO Andreas Clark said, "Last year, Australia’s most premium wines took centre stage. Our highest priced wines ($10 or more per litre FOB) achieved record value in 2016, up an impressive 19 percent to $574 million.
"This increase was driven by demand across all of our major export markets but particularly in the Northeast Asia region."
In 2016, bulk wine exports declined by 2 percent to $400 million, soft-pack exports fell by 5 percent to $14 million and exports in alternative packaging such as PETs decreased by 11 percent to $4 million.
Growth in the premium price segments added more than $93 million in value in 2016.
Exports priced $10 and more per litre FOB were up in all of Australia’s top five markets except Hong Kong – mainland China by 47 percent, the US by 23 percent, the UK by 25 percent and Canada by 9 percent. Hong Kong was down by 12 percent. ■