The Australian Bureau of Agricultural and Resource Economics (ABARE) isn’t alone in predicting an increase in the production of Australian wine this vintage. ABARE’s forecast of a 28% increase to 1.81 million tonnes comes as vineyards make a recovery from the widespread drought that is still affecting large parts of Australia. Looking ahead to the 2006 vintage, ABARE estimates that with some significant plantings of chardonnay, its production will increase to around 703,000 tonnes. Wine is now Australia’s fourth largest agricultural export by value, behind wheat, beef and wool. Exports in 2003 reached a total value of A$2.4 billion, an increase of 6% by value. The value of sales per litre declined in 2003 by 5%. By comparison, according to the Department of Foreign Affairs and Trade, Australia’s manufacturing exports fell by more than 7% (A$2.3 billion) in the last financial year to A$30.02 billion.
