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EXPORTS OF AUSTRALIAN PRODUCED WINE
EXPORTS OF WHITE AND RED/ROSÉ TABLE WINE
In original terms, 62.6 million litres of Australian produced wine were exported in May 2008, an increase of 10.8% on April 2008 but a fall of 7.2% on May 2007. In May 2008, 22.4 million litres of Australian produced white table wine were exported, an increase of 10.3% on last month and a fall of 7.1% on May 2007. Australian producers exported 38.5 million litres of red and rosé table wine in May 2008, an increase of 10.0% from last month and an 8.3% decrease on May 2007.
UNIT VALUE OF WINE EXPORTS
In original terms, the value of the wine exported this month (62.6 million litres) was $224.1m, an increase of 14.3% in value from April 2008. The average value of Australian wine exported in May 2008 was $3.58 per litre, up from $3.47 per litre last month but down from $3.92 per litre in May 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 May, the value reported by the ABS was $224.1m, while the AWBC value was $225.9m. When the Australian exchange rate is moving significantly the alternative methods will result in diverging valuations.
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