Austrian wine exports declined each when it comes to worth and quantity in 2024 because of the “tough market scenario all over the world”, the nation’s trade affiliation stated.
In keeping with knowledge from Statistics Austria, cited by the trade group, the worth of the nation’s wine exports dropped by 6% to €233.3m ($252.4m). Volumes fell by 1.7% to 64.2 million litres.
Austrian Wine Advertising and marketing Board CEO Chris Yorke stated in a press release: “All wine-producing international locations are dealing with main challenges in the meanwhile: prices which have risen sharply, lowered buying propensity and adjustments in shoppers’ ingesting habits all over the world, to call just some.
“On prime of that, the financial scenario worldwide is extraordinarily risky in the meanwhile, making it tough to give you long-term gross sales methods.”
A report from the Austrian Wine Advertising and marketing Board in January projected Austria’s wine exports for 2024 would decline from the report ranges reached in 2023.
Austria’s wine exports, which had grown by 62.7% or almost €90m since their final decline in 2015, have skilled their first downturn in eight years, the report stated.
The nation skilled a common decline in bottled wine exports, with quantity falling by 5.1% and worth by 6.3%.
Bottled pink wines had been “significantly impacted”, registering a 12.5% drop in quantity and a 14.4% decline in worth.
In distinction, bulk wine exports rose by 16.1% in quantity however at a cheaper price, resulting in a 1.4% decline in complete bulk wine export worth, the figures confirmed.
Germany continued to be Austria’s largest export market, accounting for 60.2% of complete wine shipments and 42.3% of export revenues.
Nonetheless, the worth of exports to Germany fell by 13.6% to €98.8m, regardless of remaining greater than the 2022 determine of €94.5m. Export quantity dropped by 4.4%.
Yorke added: “In 2023, our wine exports got here inside a hair’s breadth of reaching 1 / 4 of a billion at €248m.
“The primary driver for this was exceptionally excessive exports of bottled wine to our predominant export market, Germany. Since the next quantity of cheaper wine in bulk was offered to Germany once more final yr, we quickly realised that we weren’t going to have the ability to match the exceptionally excessive export worth achieved in 2023. The worldwide financial scenario as a complete is simply too risky for that in the meanwhile.”
Switzerland, beforehand Austria’s second-largest export market, noticed “painful losses”, with export quantity down by 33.1% and worth falling by 18.2%.
A common lower in Swiss wine imports, significantly pink wines, contributed to those figures.
In the meantime, the US overtook Switzerland as Austria’s second-largest wine export vacation spot, accounting for 8.5% of revenues.
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