New Zealand wine exports slip 3% in June as bulk surge fails to offset sharp bottled decline

Wine exports fell to $150.2 million in June 2024, down 3.0% year-over-year, as a 55% jump in bulk shipments could not compensate for a near-20% drop in bottled wine sales.

June exports track marginally lower

New Zealand exported $150.2 million of wine in June 2024, shipping 18.8 million litres at an average price of $7.98 per litre. The 3.0% decline in value and 4.0% fall in volume compared with June 2023 continues a challenging year for the sector, with the rolling 12-month total now standing at $2.10 billion—down 12.4% on the previous year.

Wine reached 55 destination markets during the month, maintaining New Zealand's global footprint despite softer overall demand.

United Kingdom slump weighs on headline figure

The United States remained the largest market with $46.6 million in June shipments, claiming a 31.0% share, though values declined 3.3% year-over-year. The United Kingdom, the second-largest destination, fell 22.6% to $35.0 million, accounting for 23.3% of total exports and representing a significant drag on overall performance.

Australia provided a bright spot, rising 7.2% to $27.7 million and capturing an 18.4% share. Canada also delivered solid growth, up 10.1% to $13.2 million.

Emerging markets post triple-digit gains

Several smaller markets recorded extraordinary growth rates. The United Arab Emirates surged 269.3% to $1.2 million, while South Korea more than doubled its intake, jumping 134.7% to $3.0 million. Sweden climbed 113.2% to $1.1 million, and Bulgaria rose 69.3% to $0.6 million.

Mainland China increased 32.1% to $4.5 million, France grew 49.5% to $2.3 million, and Germany advanced 42.0% to $1.8 million. Japan added 25.1% to reach $1.9 million.

Not all markets expanded: Singapore contracted sharply, down 53.7% to $0.9 million, and Ireland fell 12.9% to $2.1 million.

Bulk exports soar as bottled trade stumbles

The starkest divergence in June's figures appeared in the packaging mix. Bulk wine—shipped in containers exceeding 10 litres—jumped 54.8% year-over-year to $53.6 million, now representing 35.7% of total export value. Bottled wine in containers of two litres or less, including sparkling, fell 19.7% to $96.4 million.

The average price differential between formats remained substantial: bottled wine fetched $10.31 per litre, compared with $5.68 per litre for bulk. The surge in lower-value bulk shipments and simultaneous decline in premium bottled exports signals a marked shift in the composition of New Zealand's wine trade, likely reflecting strategic decisions by producers to supply international bottling facilities rather than finished product, or a softening in consumer demand for higher-priced bottled wine in key markets.

Data note

All figures are derived from Statistics New Zealand's overseas merchandise trade data for harmonised system code 2204 (wine of fresh grapes). Values are reported in New Zealand dollars on a free-on-board basis. Statistics for the most recent month are provisional and subject to revision as late declarations are processed and classifications are refined.