While the volume of Australian wine exports reached a new record of 580 million litres in the year to June 30, up 14% of 2002-03, the financial year was a slowing down period, the Australian Wine and Brandy Corporation reported today.

Value growth was less than volume. Total exports were worth A$2.55 billion (US$1.83 billion).

The Corporation said this was partly a change in the mix exported, partly downward retail pressure. Average unit value declined 6% to A$4.39, US$3.15.