NEW ZEALAND: Wine exports break NZ$100m barrier - figures
New Zealand's wine industry has set a record for the amount of wine exported in one month, according to recent figures.
Citing statistics from Statistics New Zealand today (5 November), New Zealand Winegrowers said that wine exports in September broke the NZ$100m (US$60.2m) barrier, coming in at NZ$101.7m for the month in value terms. From a volume perspective, meanwhile, the country also recorded a bumper month, with exports hitting 10.8m litres, the equivalent of 14.4m bottles.
For the three months to the end of September, exports totalled NZ$260m.
"There has been an increased supply from the 2008 vintage and this is now able to fulfil the unmet demand from previous years," said New Zealand Winegrowers' CEO, Philip Gregan. "We are closely monitoring export levels in light of the global economic slowdown but current demand in key markets remains strong."
Gregan also said that the New Zealand wine industry was on-track to achieve its export target of NZ$1bn of exports a year by 2010.
Australia is New Zealand's biggest growth market with 3.5m litres exported in September at a value of NZ$33.3m. This is followed by the UK with 3.4m litres at a value of NZ$27.4m and the US with 2.3m litres at a value of NZ$22.5m. Exports to both Canada and Asia are also continuing to increase, the trade body noted.
Ten years ago, in 1998, exports for the entire year were NZ$98m.
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