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EXPORTS OF AUSTRALIAN PRODUCED WINE
EXPORTS OF WHITE AND RED/ROSÉ TABLE WINE
In original terms, 71.2 million litres of Australian produced wine were exported in March 2007, an increase of 5.7% on February 2007 and an increase of 18.4% on March 2006. In February 2007, 25.6 million litres of Australian produced white table wine were exported, an increase of 11.5% on February 2007 and 18.1% on March 2006. Australian producers exported 43.7 million litres of red and rosé table wine in March 2007, an increase of 1.0% on February 2007 and 18.7% on March 2006.
UNIT VALUE OF WINE EXPORTS
In original terms, 71.2 million litres of wine valued at $264.3m were exported in March 2007, an increase of 5.7% in quantity and 11.3% in value on February 2007. The average value of Australian wine exported in March 2007 was $3.71 per litre, up from $3.67 per litre in March 2006, and up from $3.53 per litre in February 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 March, the value reported by the ABS was $264.3m, while the AWBC value was $247.8m. When the Australian exchange rate is moving significantly the alternative methods will result in diverging valuations.
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