US: Wine exports hit record in 2010
By just-drinks.com editorial team | 23 February 2011
US wine exports rebounded to hit a record $1.14bn in 2010, according to the California Wine Institute.
The value of exports rose by 25% on 2009, although the volume of exports only increased by 2%, to 47.3m nine-litre cases, said the Wine Institute yesterday (22 February). California represents around 90% of exports.
"This positive news indicates that our goal of $2bn in wine export revenues by 2020 is achievable," said the Wine Institute's president and CEO, Robert Koch. A favourable dollar exchange rate and a recovering world economy helped to boost exports.
Exports to the EU rose by 14% in value to $435m, with volumes up by 11%. Demand for California wines grew in the difficult UK market, as well as in newer European markets, including Sweden, Netherlands and Poland.
Hong Kong, meanwhile, was a standout performer. The value of exports to Hong Kong leapt by 150% versus 2009, cementing Hong Kong's position as the third largest market by value for California wine.
"With close to 20% of California's wine production being sold in other countries, exports represent an important part of our industry's success," said the trade body's international trade policy director, Tom LaFaille. "To help drive further growth, we continue to work closely with the US Government and the international wine community to remove trade barriers and open new markets," he added.
Sectors: Wine
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There is currently 1 comment on this article
As I have written before, the record sales indicated are not as evidenced in the NYC/NJ/Conn area. These three KEY states are NOT experiancing growth, rather they are off in business, as evidenced by the full page ads the retailors in these markets are running.They are offering wines at cost or below cost including 1st Crus.Not only that, they are bringing in their own private labels and selling them at $3-5/bottle.If the business was as good as the reports state they are fooling people, including other stores.
As some one who has been in the business for over 53 years, I trust what I see, and what key stores are telling me.
Norman Weiner USA
Norman weiner said at 8:28 pm, February 23, 2011
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