Australia: Three-year export high on the back of China

Australian wine exports experienced a significant surge with a 34% increase in value and a 7% increase in volume in the year ending September 2024, reaching a record high of $2.39 billion and 643 million liters. This growth is primarily due to the resumption of wine exports to mainland China, following the removal of import duties, which saw a increase in value by $604 million and volume by 58 million liters. However, exports to other destinations such as the United States, Canada, and Europe saw a decline in volume, totaling exports to all destinations remained stable in value at $1.78 billion but declined by three percent in volume to 585 million liters. The report also highlighted a decrease in global wine exports by three percent in volume, led by the top ten exporting countries. Red wine exports saw a growth, while white wine exports had a slight increase in value but a decline in volume.