Australian wine exports to China rose to a new high as the world’s second-largest economy developed its palate for premium labels.
The value of exports to Australia’s biggest customer increased 7% to A$1.2 billion ($845 million) in the 12 months to June 30, Wine Australia said Monday. That’s despite overall volumes to China falling 16% as demand for cheaper varieties declined—a trend that was echoed globally.
The total value of Australian wine exports grew by 4% to A$2.86 billion, some way off last year’s 20% surge. Overall export volumes fell 6%, driven by falling shipments of wine costing on average less than A$2.50 per liter. Wine fetching between A$100 and A$200 a liter delivered the fastest growth of 102%, while last year’s main driver—the A$50-A$100 price bracket—declined 17%.