According to the Australian Bureau of Agricultural & Resource Economics and Science (ABARES), Australia’s wine export earnings are expected to increase 8% by the end of the fiscal year. Export volume is expected to increase 5% in conjunction with the global wine price increasing 2%. In 2012/13 the value of Australian wine exports was $1.82 billion and is forecast to reach $1.96 billion by the end of the 2013/14 fiscal year. In 2012/13 Australia shipped $215 million worth of wine to China and within 12 months this value is expected to reach $248 million. Exports to the U.S. for 2013/14 are expected to be worth $448 million, falling from $464 million in 2012/13. ABARES expects that Australian wine production will increase 2% to 1.73 million tons in 2013/14 from 147,356 hectares – 61% of which will be planted in red wine grapes with Shiraz production in particular increasing by 9% in 2013/14.
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