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Australian wine export value grows 8%

Published:  23 July, 2008

Wine exports from Australia have grown 8% in value in the year ending November 2007.

Figures from the Australian Wine and Brandy Corporation (AWBC) also discovered that average prices grew by 2%, which represents the second month of a positive price change on a moving annual total (MAT) basis.

The monthly report said a decline in relatively lower-priced soft pack volumes and growth in the shipment volumes of relatively higher-priced bottled wine, notably reds, had contributed to the average price increase.

As well as bottled reds driving the overall increase, there was a decline in US export volumes despite a growth in the value of products exported.

Conversely, Australia saw increases in the volume of UK wine exports but a decrease in the average price on products.

Singapore continued to be a key market for Australian wine exports with double digit rate growth in value and volume in this South-East Asian country over the last five years - some 21% of shipments here were priced above A$10 (4.30) per litre.

The 2004 Penfolds Bin 707 Cabernet Sauvignon was announced this week as the winner of the George Mackey Memorial Trophy for Australia's export wine of the year.