Global wine exports continue to accelerate

According to the Rabobank wine quarterly statistics report, global wine exports continue to maintain growth. Only South Africa and Australia are affected by exchange rate factors, and wine exports have declined.

The report said that so far this year, Australian wine exports have fallen 11.8% from a year earlier to 392,000 kiloliters; exports have fallen 10% to 1.06 billion Australian dollars. The continued strength of the Australian dollar, which led to the increase in export prices, was a major factor in the decline in Australian wine exports.

In the six months to the end of August, total South African wine exports fell by 12%. Among them, bulk wine exports increased by 7.2% and bottled wine exports fell by 24.4%. In the year to the end of August, South Africa’s wine exports to its largest market, the United Kingdom, fell by 26%, but its exports to other smaller markets rose to some extent offsetting its decline in the UK market. For example, exports to Denmark and Canada increased by 9%, exports to Nigeria increased by 22%, exports to Thailand increased by 25%, exports to Angola increased by 32%, and exports to Tanzania increased by 29%.

South African wine exports to New Zealand have risen slightly. From January to July this year, the export volume to New Zealand was 84,900 kiloliters, and the export volume was SGD 577 million. Due to the increase in the share of bulk wine exports, the average price per liter of New Zealand exports fell to S$6.97 per litre during the year ending in July.

At present, most of the northern hemisphere is in the grape harvest season, and the balance of supply and demand of wine in the world is expected to be further understood. The rise in grape production in the southern hemisphere has caused a slight decline in the price of wine. The global supply and demand situation will largely depend on the production of the northern hemisphere.

Early indications indicate that although grape production in France and Germany increased this year, the decline in production in Italy, Spain and the United States far more than offset this increase.