The UK has ceded its crown as the most valuable export market for Australian wine to the US.

According to the Australian Wine and Brandy Corporation yesterday (10 April), the US market was valued at A$963m (US$794m) for the 12 months to March, ahead of the UK on $944m.

These two markets were followed by Canada on $249m and New Zealand on $96m. Germany lay in fifth place on $66m.

It was the first time since the 12 months to September 2004 that the US has held the top spot.

Overall Australian exports rose 10% in volumes to 788m litres while value increased 4% to $2.91bn. These record figures came despite a 6% drop in the average price per litre, as bulk shipments grew.