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EXPORTS OF AUSTRALIAN PRODUCED WINE
EXPORTS OF WHITE AND RED/ROSÉ TABLE WINE
In original terms, 57.8 million litres of Australian produced table wine were exported in February 2009, an increase of 27.5% on January 2009 and an increase of 26.9% on February 2008. In February 2009, 24.4 million litres of Australian produced white table wine were exported, an increase of 33.7% from last month and an increase of 57.1% on February 2008. Australian producers exported 33.4 million litres of red and rosé table wine in February 2009, an increase of 23.3% from last month and a 11.2% increase on February 2008.
UNIT VALUE OF WINE EXPORTS
In original terms, the value of the wine exported this month (58.8 million litres) was $186.9m, an increase of 31.9% in value from January 2009. The average value of Australian wine exported in February 2009 was $3.18 per litre, up from $3.07 per litre last month and down from $3.70 per litre in February 2008.
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 February, the value reported by the ABS was $186.9m, while the AWBC value was $165.9m. When the Australian exchange rate is moving significantly the alternative methods will result in diverging valuations.
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