The total value of Australian wine exports fell 1% in the 12 months to the end of June, according to new figures.
Trade body Wine Australia said today export value dropped to AUD2.84bn (US$2.03bn). The dip was as a result of measures to contain COVID-19, according to Wine Australia.
The trade group warned in February the pandemic would impact exports. In the same month, the group hailed a 3% rise in Australian wine export values for the year 2019.
In today’s 12-month results, the average value of Australian wine exports grew to AUD3.89 per litre free on board (FOB), the highest level since 2004–05. The FOB value includes production and other costs but excludes international insurance and transport costs.
Wine Australia CEO Andreas Clark said exports during the first two quarters of the year followed the growth trajectory of previous years but that they fell in the latter two quarters as the restrictions hit economies worldwide.
“The advent of the COVID-19 pandemic has resulted in unprecedented disruption to wine markets around the world with the closure of restaurants, cafes and bars,” Clark said.
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