From Nadia Schmidli
, at 24. February 2011 07:13
By: just-drinks.com editorial team – Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page Share this article
US wine exports rebounded to hit a record $1.14bn in 2010, according to the California Wine Institute.
The value of exports rose by 25% on 2009, although the volume of exports only increased by 2%, to 47.3m nine-litre cases, said the Wine Institute yesterday (22 February). California represents around 90% of exports.
“This positive news indicates that our goal of $2bn in wine export revenues by 2020 is achievable,” said the Wine Institute’s president and CEO, Robert Koch. A favourable dollar exchange rate and a recovering world economy helped to boost exports.
Exports to the EU rose by 14% in value to $435m, with volumes up by 11%. Demand for California wines grew in the difficult UK market, as well as in newer European markets, including Sweden, Netherlands and Poland.
Hong Kong, meanwhile, was a standout performer. The value of exports to Hong Kong leapt by 150% versus 2009, cementing Hong Kong’s position as the third largest market by value for California wine.
“With close to 20% of California’s wine production being sold in other countries, exports represent an important part of our industry’s success,” said the trade body’s international trade policy director, Tom LaFaille. “To help drive further growth, we continue to work closely with the US Government and the international wine community to remove trade barriers and open new markets,” he added.
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