Australia: Small reduction in national inventory as global conditions set to remain challenging for wine

Published 2023년 11월 21일

Tridge summary

The Wine Australia's Wine Production, Sales, and Inventory Report revealed that the 2022-23 vintage was the smallest in over 20 years, resulting in a decrease in overall national wine stocks. Sales of Australian wine remained steady, with a slight decrease in exports offset by a 1% increase in domestic sales. The global wine industry faces challenges due to declining consumption, changing consumer tastes, and increased competition from other drink categories, but opportunities for export growth exist in Southeast Asian markets and the US.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The smallest vintage in a generation, combined with steady sales, saw a small reduction in overall national stocks in 2022–23, according to Wine Australia’s Wine Production, Sales and Inventory Report 2023. Production Based on the results of the 2023 Production, Sales and Inventory survey (PSI survey), total Australian wine production in 2022–23 is estimated to be 964 million litres (107 million 9-litre case equivalents) – the lowest since 2006–07 and the first time since then that wine production in Australia has fallen below 1 billion litres. It was nearly 300 million litres (38 million cases) below the 10-year average[1] of 1.26 million litres (Figure 1). Figure 1 - Wine production by colour over time Source: Wine Australia Production, Sales and Inventory surveys and ABS The near-record low production was not unexpected, after the 2023 vintage was the smallest in more than 20 years at 1.32 million tonnes. Red wine fell by more than white wine in total volume and percentage ...

Source: WineAustralia