News

AUS: Glut hits wine export revenues

Most popular

just-drinks meets Beam Suntory CEO Albert Baladi

What does the future hold for Champagne? - Focus

The just-drinks analyst returns

just-drinks speaks to Beam Suntory CEO - Part II

The next chapter for Scotch has its challenges

MORE

The latest data from the Australian wine industry has signalled more bad news for the sector with the value of exports down for the first time in 15 years.

Figures from the Australian Wine and Brandy Corporation showed that export revenues had dipped 0.6% to A$2.78bn (US$2.1bn) for the 12 months to 30 September.

The AWBC said that Australia's grape glut had hit revenues as producers cut prices to shift excess stock.

The average price per litre stood at A$3.77, the lowest since March 1997, as more bulk wine was shipped abroad.

Exports to Australia's biggest export market for wine, the UK, fell 3% to A$946m. Exports to the US, Canada and Germany were also down in value terms.

Last week, Constellation Brands, the owner of Hardy Wines Company, Australia's biggest wine producer, blamed "intense" competition in the UK for its move to cut its profit forecasts.

West Australian wine producer Evans & Tate has been forced to write down the value of its stock and sell two wineries after Australia's wine glut caused a slump in domestic sales.


Related Content

Wine Australia

Wine Australia "redoubles" efforts to boost US exports - figures...

Australia's UK wine exports slump 7% post-Brexit - figures

Australia's UK wine exports slump 7% post-Brexit - figures...

Wine exports rise double digits for Australia in 2018 - data

Wine exports rise double digits for Australia in 2018 - data...

Thirst for premium whisky pushes Scotch export values up, volumes down in H1 2017

Thirst for premium whisky pushes Scotch export values up, volumes down in H1 2017...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?