International Wine Industry Review英文资料.pdfVIP

Commodities: Agri Updates 16 June 2011 International Wine Industry Review The wine industry sobers up... Key points Rapid growth is not necessarily a good thing - there is a global, and domestic, glut of wine and wine grapes. The wine industry proves that not all global agricultural commodities enjoy strong consumption growth. Summary The Australian wine industry developed an enviable aura from the eighties to early-noughties. It seemed, all of a sudden, that everything to do with wine was fashionable. Be that producing it, selling it, or drinking it. Wine consumption in Australia has grown strongly, while beer consumption has been flat. The Australian drinker, who started out by having the odd glass of cask-Chardonnay every now and again, was suddenly head-over-heels for Shiraz, Pinot or Sauvignon Blanc. Wine’s share of Australia’s bar-tab lifted from 17% from 37% between 1974/75 to 2009/10. Beer’s share dropped from 70% to 44%. Increasing cultural diversity, a changing drinking culture (i.e. fewer 5pm pub-stops), wine’s perceived health benefits, and rising household incomes help explain the rise of wine and the demise of beer. Although wine consumption in Australia has been strong over the past few decades, domestic wine production growth has been exceptional, and surplus to local requirements. Australia’s wine grape area exploded during the nineties, aided by high grape prices and the corporatisation of the Australian industry. Between 1994 and 2004, Australia’s wine grape production surged 2.5-times to 1.92 million tonnes, equating to a staggering average annual growth of nearly 10%. Australia’s growth in wine production outstripped local consumption needs, driving an export industry that grew by 11% per annum in the past decade alone. Exports now account for 63% of total disposals o