Tough conditions for Australian wine exports as key markets fall

The value of Australian wine exports fell by 7% in the last year to $1.90 billion, driven by a 20% year-on-year decline in exports to the UK, according to Wine Australia’s latest Export Report. Overall wine exports from Australia declined by 7% in value to $1.90 billion, the report said, with volumes falling 1% to 620 million litres (equivalent to 69 million 9-litre case) in the year to 31 March 2023. This marks a drop of 18% below the 10-year average in value terms ($2.30 billion) and 16% below the 10-year average volume of 736 million litres. Exports to the UK, which is Australia’s top market by volume, representing a third (33%) of its total exports, and second largest market by value at 19%, drove the declines, Wine Australia manager, market insights Peter Bailey said. “The UK is still experiencing the decline that we’ve previously reported, which is the result of elevated shipments over the past two years due to pre-Brexit demand and COVID-19 induced changes in consumer ...