NZ wine exports cross billion-dollar barrier
NZ wine

Global response to New Zealand's wine scaled new heights with wine exports crossing the billion-dollar barrier; selling wine worth $1.01 billion by the end of July. The industry, in the midst of bumper wine harvest, is optimistic about achieving targets ahead of the schedule.

Wine sales stood at $992 million in August-July period but within a month sales reach to billion dollar figure, means, the country sold five bottles in a second. Sales have grown by $200 million in the previous fiscal, given the more than expected harvest that ensured adequate supply in the market.

NZ Winegrowers Chief Executive Philip Gregan said: "New Zealand wine still has enormous opportunity globally with strong demand from key markets, notably Australia, the United Kingdom and the United States, as well as increasingly from Asian and continental European markets."

Mr. Gregan gave credit to world class quality for achieving long term growth in exports, besides efficient marketing and sales efforts.