New Zealand is now the most export-focused wine industry in the world and the sixth largest exporter by value. NZ Winegrowers (Tosq Wines)
New Zealand Winegrowers has just released its 2023 Annual Report. A review of the key points suggests to me that the New Zealand wine industry is in good shape.
Grape-grower numbers have fallen to 681, the lowest number in the past decade. That suggests to me that high demand for vineyards has resulted in buy-outs to gain economies of scale. Total hectarage rose by a relatively modest 1.3% to 41,860 ha, the highest in the past decade.
In the past year wine exports have recorded a 23% increase in value to NZD $2.4 billion.
The 2023 vintage produced the third highest yield in the past decade with 12 tonnes per hectare. That compares favourably with the average yield in the last 10 years which was 11.2 tonnes per hectare.
The average grape price per tonne in 2022 was NZD $2,261 which is the highest in the past decade and 11.7% higher than the previous year. Price movement is a good measure of demand.
In 2023 the grape crush was 501,000 tonnes, the second highest volume in the past decade and 6.2% below the previous vintage in 2022, the highest crush on record.
Domestic sales of New Zealand wine have steadily fallen to an estimated 42.9 million litres in 2023, following a similar trajectory to the consumption of New Zealand wine per capita which currently stands at 8.3
This Article was originally published on The Real Review
