Wine exports hit $1.5 billion
Industry is on track to hit $2 billion by 2020, NZ Winegrowers says. With special feature audio.
New Zealand wine exports have reached a record high of $1.54 billion for the 2015 year, up 14% on 2014, according to New Zealand Winegrowers.
New Zealand wine is exported to more than 90 countries and is New Zealand’s sixth largest export good.
NZ Winegrowers chief executive Philip Gregan says between 2008 and 2010 the industry faced difficulties but there was strong demand in all markets last year.
The US had particularly high demand, with export value up 26% to $430 million. Mr Gregan tells NBR Radio the weaker dollar and the long-term investment in the US market have reaped the rewards.
Meanwhile, Canada was up 18% to $100 million and the UK up 12% to $380 million.
Asked if wine would have a sour year like other commodities such as dairy, Mr Gregan says it won’t.
“There is a commodity trade in wine but the wines being exported from New Zealand are definitely not part of that. You can buy wine in the international marketplace for 50-70c a litre. Our bottled wines sell at an average of close to $9 a litre so we’re in a completely different part of the market,” he says.
New Zealand wine exports reached $1 billion in 2010 and the industry has a goal of $2 billion of annual wine exports in 2020.
Future growth markets are in Asia, particularly China, but Mr Gregan says exports to the People’s Republic will need time to build momentum.
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Campbell Gibson
Fri, 29 Jan 2016
Fri, 29 Jan 2016
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Wine exports hit $1.5 billion
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