Overseas wine sales hit record

New Zealand wine export revenues have reached a record high of $766 million, up 16 per cent from $661 million the previous year.

NZ Winegrowers chief executive Philip Gregan said the growth reflected strong demand for New Zealand wines in new and existing markets.

"Our ongoing market success reflects our status as a world-class producer of sauvignon blanc, pinot noir, chardonnay and a range of other styles."

Growth was constrained by shortages of key grape varieties and the high dollar, Gregan said.

Wine volumes have risen at a compound annual growth rate of 19 per cent over the past decade and 26 per cent for the past five years.

Gregan identified strong and rising demand in key markets such as Britain, Australia, the United States and Canada.

Good weather boded well for the 2008 vintage.

He said: "This combination of continued strong demand and a quality, increased vintage means we are on track to reach our export goal of $1 billion by 2010."

- NZPA

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