EXPORTS OF AUSTRALIAN PRODUCED WINE


ANNUAL EXPORTS OF AUSTRALIAN PRODUCED WINE

The graph below shows a fall from last year in the quantity of exports of Australian produced wine. In 2007-08 wine exports totalled 717 million litres, a fall of 8.9% from the 787 million litres exported in 2006-07. Further, the volume of Australian made wine exported in 2007-08 was 0.6% lower than than the volume in 2005-06 (722 million litres). Apart from a fall in 1994-95, the 1990s saw a steady increase in Australian wine exported. The 1992-93 period saw Australia export more than 100 million litres for the first time. More than 300 million litres of wine sold to overseas markets during 2000-01, reaching the high of 787 million litres in 2006-07.

EXPORTS OF WHITE AND RED/ROSÉ TABLE WINE

In original terms, 53.5 million litres of Australian produced wine were exported in June 2008, a decrease of 14.0% on May 2008 and a fall of 12.2% on June 2007. In June 2008, 21.2 million litres of Australian produced white table wine were exported, a decrease of 5.2% on last month and a fall of 0.3% on June 2007. Australian producers exported 31.4 million litres of red and rosé table wine in June 2008, a decrease of 17.8% from last month and an 18.6% decrease on June 2007.

UNIT VALUE OF WINE EXPORTS

In original terms, the value of the wine exported this month (53.5 million litres) was $185.5m, a decrease of 16.5% in value from May 2008. The average value of Australian wine exported in June 2008 was $3.47 per litre, down from $3.57 per litre last month and also down from $3.97 per litre in June 2007.

DIFFERENCES BETWEEN ABS AND AWBC WINE EXPORT FIGURES

The value of wine exports reported in this publication is derived by the Australian Bureau of Statistics (ABS) from customs export records and the ABS converts the value on the day of shipment, at the daily conversion rate (see paragraph 10 of the Explanatory Notes for more detail). The Australian Wine and Brandy Corporation (AWBC) also report the value of exports and the exporter makes the conversion when submitting wine for export approval. With the AWBC method, it is expected that some of the conversions will occur at hedged rates. This does not occur with the ABS method. For June, the value reported by the ABS was $185.5m, while the AWBC value was $160.5m. When the Australian exchange rate is moving significantly the alternative methods will result in diverging valuations.