Australia's wine exports fell 10% in 2011 to AU$1.89B, the lowest level in 10 years, according to government agency; Australia's imported wine prices dropped by 30% due to strong Australian dollar
January 24, 2012
– Australia’s wine exports fell 10% year-over-year in 2011 to AU$1.89 billion (US$1.98 billion), the lowest level in 10 years, according to government export agency Wine Australia, Bloomberg reported on Jan. 22.
Australia’s wine exports were at 786 million liters in 2007. Since then, exports have decreased 11%, reaching 703 million liters last year.
In the U.S., sales of Australia’s Treasury Wine Estates, including Lindemans and Penfolds brands, dropped 15% to $803 million in the year through June 2011.
Australia’s imported wine prices have plummeted due to the strong value of the Australian dollar as well as the falling value of the Euro. Some imported wine prices have dropped 30%.
Australian Bordeaux Shippers founder John Baker stores 10,800 bottles of French wine every six weeks, doubling his company's import volumes over five years. When Bordeaux Shippers was founded in 2003, the Australian dollar was worth 54 Euro cents; now, the Australian dollar is worth 81 Euro cents.
The primary source of this article is Bloomberg, New York, New York, on Jan. 22, 2012.