Wine export volume, value hit three-year highs after China ban dropped

Industry research and development, marketing and regulatory body Wine Australia has released its latest Export Report, showing exports up 34 per cent by value and 7 per cent in volume for the 12 months ending September 2024, both reaching their highest levels in three years.

In a statement on the report on Tuesday, Wine Australia said exports of $2.39 billion and 643 million litres were the best since August 2021. According to the release, growth was “driven by the re-entry of Australian wine exports to mainland China following the removal of import duties” on bottled wine in March this year.

Exports to mainland China were up by $604 million to $612 million, and volume rose 58 million litres to 59 million litres. Exports to all other destinations were stable by value at $1.78 billion and 3 per cent lower in volume to 585 million litres.

Wine Australia Manager, Market Insights, Peter Bailey, said the export figures to China were “very positive”, though added, “Export levels are not equivalent to retail figures, and it will take time before it is evident how Chinese consumers are reacting to having Australian wine back in market.

“Despite this recent growth in exports, it is increasingly important to pursue market diversification and defend our share in other wine markets.”

For the 12-month period, 68 per cent of total value and 38 per cent of total volume was from the top ten companies exporting to China (a total of 927 Australian companies are that market.)

The top five destinations by value were: