New Zealand wine exports to the United States are continuing to grow, strengthening its position as largest export market for producers.
The Rabobank Wine Quarterly report shows in the first six months of 2018, New Zealand wine exports to the US rose by six per cent in volume and 13 per cent in value in comparison to the same period in 2017.
The report said the rise was primarily driven by higher sales of bottled wines, up by 11 per cent volume, while imports of bulk wine were stagnant in volume terms.
Rabobank senior wine and horticulture analyst Hayden Higgins said growth in wine exports to the US solidified the country's status as the most significant market for New Zealand wine producers.
"In recent years the US market has established itself as the largest market for New Zealand wine exports, in regard to both value and volume, and the continued export growth in the first part of 2018 further strengthens this position," he said.
Looking forward, the report said the European harvest is virtually finished, and in general terms, volumes are back in line with historic levels in France, Spain and Italy.
"However after a smaller European harvest in 2017, export volumes from the major European producers are likely to remain constrained, at least until the first wines of the 2018 harvest reach the market," said Mr Higgins.
Newshub.
