According to the latest data released by Wine Australia, Australian wine exports slumped 10% in value to AU$1.87 billion over the 12 months ending in June amid weakened consumer demand observed in mature markets, particularly in the US.

The reduction in export value was mainly driven by a decrease in shipments to the US, with lower-priced packaged exports continuing to decline. Additionally, exports to the UK also saw a decline, following two years of elevated shipments driven by pre-Brexit demand and 

It’s worthy to note that among the top five markets by value, all reported drops except Hong Kong, which grew by 29% to AU$220 million during the year.

The UK saw a 14% decrease to AU$364 million; the US experienced an 18% decline to AU$359 million, and Canada witnessed a 6% decline to AU$163 million. Singapore faced a 24% decrease to AU$128 million.