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EXPORTS OF AUSTRALIAN PRODUCED WINE
EXPORTS OF WHITE AND RED/ROSÉ TABLE WINE
In original terms, 69 million litres of Australian produced table wine were exported in March, an increase of 18.5% on February and an increase of 19.9% on March 2008. In March 2009, 27.1 million litres of Australian produced white table wine were exported, an increase of 10.9% from last month and an increase of 37.1% on March 2008. Australian producers exported 40.7 million litres of red and rosé table wine in March 2009, an increase of 24.0% from last month and a 11.6% increase on March 2008.
UNIT VALUE OF WINE EXPORTS
In original terms, the value of the wine exported in March (69 million litres) was $210.5m, an increase of 13.1% in value from February. The average value of Australian wine exported in March was $3.05 per litre, down from $3.20 per litre last month and down from $3.79 per litre in March 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 March, the value reported by the ABS was $210.5m, while the AWBC value was $203m. When the Australian exchange rate is moving significantly the alternative methods will result in diverging valuations.
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