NEWS
NZ WINE EXPORTS DEFIED COVID HIT NEW RECORD AT NZD2B, BUT EXPORTS TO ASIA SLUGGISH
By Siulan Law Mathews DipWSET
26-11-2020
Source: New Zealand Winegrowers
New Zealand reported record wine exports worth NZD2billion (USD1.39b) in the year ended 30 June 2020, up 6 percent on the the year before, despite that exports to major Asian markets have dropped during the period.
According to the 2020 Annual Report released by New Zealand Winegrowers (NZW), the increase is mainly supported by growth in exports to USA where export value increased from NZD557million in 2019 to NZD622m in 2020, representing an increase of 11.7 percent.
Exports to major Asian markets, however, have either declined or flat-lined. Exports value to China dropped from NZD39m to NZD26.6m, to Singapore from NZD18.8m to NZD16.5m, to Japan from NZD15m to NZD14.8m. Hong Kong is the only major Asian market seeing an increase from NZD13.3m to NZD14.1m.
Source: New Zealand Winegrowers (Figures in millions)
United Kingdom and Australia are New Zealand wines’ second and third biggest markets after USA, exports to these two markets just flat-lined in the period.
However, the NZW is excited about the 6 percent export value growth seen in 2020 bringing the trade closer to the NZD2b mark.
“This milestone reflects the appreciation that the world has for New Zealand wine, and reinforces our international reputation for distinct, premium and sustainable wines,” said NZW chariman Clive Jones.
“After the industry withstood the 2020 harvest during Level 4 lockdown, we were planning for a worst-case scenario. But instead what we have seen is that while the world has changed in 2020, what has not changed is people’s love for New Zealand wine,” he said.
“Exports to our key international markets have increased beyond expectations this year, but on the other hand, wine businesses that sell predominantly through on-premise and wine tourism have experienced significant challenges. Encouragingly in the domestic market, we are seeing people continue to buy and support local,” he added.
(the writer can be contacted at: info@thewinechronicle.com)
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