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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 wine were exported in March 2008, an increase of 23.4% on February 2008 and a fall of 18.3% on March 2007. In March 2008, 19.8 million litres of Australian produced white table wine were exported, an increase of 27.8% on last month and a fall of 22.2% on March 2007. Australian producers exported 36.7 million litres of red and rosé table wine in March 2008, an increase of 22.0% from last month and a 15.6% decrease on March 2007.
UNIT VALUE OF WINE EXPORTS
In original terms, the value of the wine exported this month (57.8 million litres) was $219.3m, an increase of 26.3% in value from February 2008. The average value of Australian wine exported in March 2008 was $3.79 per litre, up from $3.70 per litre last month and also up from $3.71 per litre in March 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 $219.3m, while the AWBC value was $200.1m. When the Australian exchange rate is moving significantly the alternative methods will result in diverging valuations.
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