A monumental October, which saw around 30 million litres of wine exported (against 22 million litres in October 1998), has seen the moving volume of Australian wine sold in the last twelve months shoot up to 249 million litres, up 28% against the previous year. This is an encouraging sign indeed, for although it is very early days, it would suggest that Australia’s slowed rate of export growth by volume had more to do with lack of supply than other factors. With a projected 2000 crop around 1.18 million tonnes, about 70,000 above 1999 levels, Australia’s dependence on export is increasing dramatically. Naturally, if volume growth is to stay at something like this rate, the price per litre will reduce. Much of this growth took place in the US, where Australia’s wine imports are the fastest growing of any country. On current rates, Australia will soon overtake Chile as the US’ third largest import supplier by value. n Southcorp Wines’ exports have grown internationally by almost 800% since 1991, from $41 million to $313 million in June 1999. The Penfolds and Lindemans brands represent more than 60% of its total exports. Southcorp now exports more than half its total bottled wine sales. The company’s five year investment of $145 million to double red wine production capacity to 100,000 tonnes is 75% complete.
