Wine Australia's 2016 vintage production report - key findings
- The 2016 vintage saw highest production since 2008
- Red and white wine production were both up
- Domestic and export markets are both in growth
- An additional 15 million litres of Australian wine were sold in 2015–16, compared with the year before, with an additional value of $408 million
- Relatively strong sales growth for reds reflected higher production
- Increased sales were driven by the ‘premiumisation’ trend in the domestic market and strong demand from Asian markets for premium Australian wines
- Inventory increased by 115 million litres, with a greater increase in white wines • Inventory-to-sales ratios at the end of 2015–16 were above long-term averages for red and white wine but inventory was well below 2005–06 level of nearly 2 billion litres
- The long-term trend for production, sales and inventory is positive, with continuing sales growth expected especially in export markets, and production unlikely to increase due to a stable national vineyard base
Source: Wine Australia