n the 12 months ended December 2024, Australian wine exports increased by 34 per cent in value to $2.55 billion and by 7 per cent in volume to 649 million litres, according to Wine Australia’s Export Report released today. The increase in value was a result of high levels of shipments to mainland China between April and December 2024, after tariffs on Australian bottled wine were removed at the end of March 2024. In those nine months, 83 million litres of wine, worth $902 million, have been exported to mainland China. The average value of exports to mainland China for the 12 months ended December 2024 was $10.79 per litre, contributing to a 24 per cent increase in the average value of total packaged exports to $9.35 per litre – a record value. Peter Bailey, Manager, Market Insights, Wine Australia said, “while there has been month-to-month volatility in the value of shipments to mainland China in the period since tariffs were removed, the performance is nonetheless very positive. However, Chinese wine consumption is much lower than it was before the import tariffs were imposed, so it will take more time before it becomes clear what the ‘new normal’ level of exports to mainland China will be, after this initial re-stocking period." Outside of the unique circumstances relating to exports to mainland China, global alcohol consumption is facing numerous headwinds, and this is impacting the results to other markets. In many established wine markets consumption is declining due to health and wellness concerns and the rising cost of living. This has contributed to a global oversupply of wine and increased competition in already strained supply chains. Australian wine exports to the rest of the world declined by 13 per cent in value to $1.64 billion and 7 per cent in volume to 565 million litres during the 12 months to December 2024.
The decline in value was largely driven by Hong Kong, after a large increase in shipments to this destination at the end of 2023 likely driven by some Australian exporters anticipating the removal of import tariffs in mainland China in early 2024. A decline in unpackaged wine exports to the United States after a period of heightened exports further contributed to the volume decline. Exports to North America declined by 5 per cent to $482 million, driven by the United States, with growth in exports to Canada offsetting some of the decline. There were mixed results by destination in Europe. The value of shipments to the region declined by 4 per cent to $521 million, with exports to the United Kingdom, Germany, Denmark, and the Netherlands declining. Meanwhile, exports to Sweden, Belgium, Finland, Ireland, and Poland increased in value. Outside of mainland China, most other Asian destinations declined in exports during the 12 months to December 2024, although the long-term growth rate in value for the region (excluding mainland China) was still positive at 4 per cent per year in the last 5 years. The top five destinations by value were:
(Excerpt from a release)
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