The current export boom for Australia's wine producers is providing diminishing returns, according to latest figures. The country's Wine & Brandy Corporation has announced record exports coupled with a further drop in value per litre.

The annual export figure for the year to the end of October was 623m litres, worth A$2.67 bln (US$202.7 bln). Value per litre declined in the period, however, to $A4.28.

The price reached a peak of $4.81 per litre in February last year but has been eroded month by month since.

The Winemakers Federation of Australia, however, remains upbeat about the trend.

Chief executive Stephen Strachan has told just-drinks that it reflected not only extremely tough competition, especially in the key UK, US and Canadian markets, but also indicated Australian success at the lower end of the market, exemplified by such brands as Yellow Tail, Jacob's Creek and Banrock Station.