Exports of Australian wine in the last 12 months have registered a greater rise in value terms rather than volume terms, according to recent figures.

The Australian Wine and Brandy Corporation said today (10 December) that wine exports for the year to the end of November increased by 6% in volume terms to 795m litres, while in value terms the climb was 8% at A$3.02bn (US$2.67bn). The value increase was the largest in the last three years, the corporation noted.

The average price per litre of exported wine rose by 2% to A$3.80, marking the second consecutive monthly lift on the same month in 2006.

Speaking to The Australian over the weekend, Lawrie Stanford, an analysis manager at the AWBC, said: "We're seeing better days now that the oversupply is coming back to balance. The industry is getting a chance to promote our higher-quality, higher-priced and better margin product ... it's everything that we hoped would happen."

The UK maintained its position as the leading market for Australian wine export in the period, with volume taken by the country up 7% to 289m litres, and value rising by 4% to A$980m.