Australia: Wine stocks fall after sales exceed production, but demand remains flat

Published 2024년 12월 11일

Tridge summary

Australian wine sales surpassed production for the second year in a row in 2024, due to small vintages and decreased global demand for wine. The 2024 vintage was the second-smallest since 2006–07, with production at 1.43 million tonnes, which is 300,000 tonnes below the 10-year average. Red wine production decreased by 24% from its 10-year average, while white wine production increased by 20%, leading to a 5% increase in its share of production. Total sales volume was 1.08 billion litres, a 1% decrease from the previous year and 11% below the 10-year average. The stock-to-sales ratio decreased as sales exceeded production, and the global outlook for Australian wine remains challenging due to economic constraints, alcohol moderation trends, and competition from other beverages.

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

Original content

Total sales of Australian wine exceeded production for the second year in a row, following successive small vintages, according to the Australian Wine Production, Sales and Inventory Report 2024 released today by Wine Australia. Production For the second year in a row, the 2024 vintage was well below average, coming in at 1.43 million tonnes – 300,000 tonnes below the 10-year average of 1.73 million tonnes. The below-average crush was partly a result of difficult seasonal conditions in many regions – including heavy rainfall and flooding, widespread windy conditions affecting flowering, and dry spring weather leading to cold nights and the potential for frost damage. However, deliberate decisions made by grapegrowers and wine businesses also contributed, driven by low grape prices, stock overhangs (despite the very small 2023 vintage) and reduced global demand for wine. This applied particularly to reds, which decreased further compared with 2023, whereas whites increased by 20 ...

Source: WineAustralia