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Value of Australian wine exports to China up 7 pct

Time:2019-07-23 15:47wine - Red wine life health Click:

Australia-Wine

CANBERRA, July 22 (Xinhua) -- Australia has overtaken France as the number one exporter of wine to China by value, according to data released by Wine Australia on Monday.

According to data, Australian wine exports to China were worth 1.2 billion Australian dollars (845 million U.S. dollars) in the financial year 2018-2019, a 7-percent increase from the previous year.

The growth in value came despite the volume of wine exported from Australia to China falling 16 percent to 154 million liters.

The figure represents 24 percent of all wine imported by China, a significant increase from the 11 percent share of the Australian market in 2015.

Australia's wine exports to all countries were worth 2.86 billion Australian dollars (2.01 billion U.S. dollars) in 2018-2019, a 4-percent increase from 2017-2018.

The average price per liter of exported wine rose 10 percent to 3.58 Australian dollars (2.52 U.S. dollars), the highest level in a decade.

"The strong growth in average value is positive for the wine sector and the broader economy as it lifts returns for wine businesses and flows through to regional economies through higher grape prices," Wine Australia Chief Executive Officer Andreas Clark said in a media release.

The United States was the second biggest market for Australian wine, with the value rising 2 percent to 432 million Australian dollars (304.3 million U.S. dollars), followed by Britain, Canada and New Zealand.

Clark said that the turnaround in the U.S. market "rewards the efforts of the many exporters who are working actively in that market to change perceptions about Australian wines and communicate about the diversity and excellence of Australia's offering." Enditem

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