The report noted flat or declining sales, high inventory levels, tough economic conditions, cost increases, falling global demand for wine, and supply chain destocking.
From July to January, export volume declined 24% with value down 22%, and from February exports rebounded with June lifting 6% from the January lows.
In the June year end, exports totalled NZ$2.1 bn, down 11% on last year’s level.
“After record increases in exports last year, wineries have endured a rollercoaster ride over the past 12 months,” said New Zealand Wine. Domestically the wine market in New Zealand has continued to decline, “reflecting a range of factors, from demographic change to increased regulation”.
Total wine sales were down an estimated 8%, to 78.9 million litres, the lowest level in the past two decades.
Despite this, plantings in New Zealand continue to grow as the country is now home to a 42,519ha vineyard, up from 41,991 in 2023.
