Australian wine export data for the December 2024 quarter showed continued demand from China for Australian red wine. China bottled wine volumes were 1.4 million cases with a value of $280 million. The past nine month export value to China is within 11% of the record 2019 levels. Volumes in other regions declined in the quarter.

Australian wine export data for the September 2024 quarter shows another quarter of rebuild in China. China bottled wine volumes were 1.2 million cases.  The rest of world saw volumes down slightly, reflecting this reallocation.  Consistent with broader demand trends and Treasury’s strategy, the export data highlights that wines over $20 per bottle are performing well, while other price segments are softer. We expect Treasury to have a solid FY25e year given higher prices for its luxury wine.