Australian wineries look to China as US develops taste for NZ wine
Australian wine makers are looking to Chinese drinkers as the New Zealand wine industry overtakes Australia as an exporter to the US. The value of New Zealand wine exports to the US has surged to around $400m due to an increased demand for its premium wines. At the same time, Australia exports to China rose by 40% in 2016, according to Dutch financial firm Rabobank. "I think the US has become less critical as a consequence of the growth of the Chinese market, which is a good thing for the Australian industry," said Rabobank senior analyst Marc Socio.
The Australian wine industry wants to exploit the Chinese market after its imports to the US were valued less than that of New Zealand.

According to Dutch finance company Rabobank, the value of New Zealand wine imports by the US reached almost $400 million due to an increased will to spend more on premium wines following the financial crisis.

But despite falling short to New Zealand in the US premium wine market, Australia’s exports to China increased by 40% in 2016.

Chief executive of the Winemakers Federation of Australia, Tony Battaglene, said: "We were only around $75 million or so in 2007 and we are up to over $500 million now, and our exports grew around 40 per cent last year.

"It is our major one destination in terms of value, it has been an extraordinary growth there.

"So yes, we are focusing a lot on China."

Rabobank senior analyst Marc Soccio added: "I think the US has become less critical as a consequence of the growth of the Chinese market, which is a good thing for the Australian industry.”