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Thursday, March 15, 2007

U.S. Wine Exports Jump 30 Percent

According to the Wine Institute, exports of wine from the United States climbed 30 percent in 2006, jumping from $673.5 million to $875.6 million.

The jump is a good sign for domestic wineries for several reasons. First of all, the dollar increase came on only a 4 percent bump in volume. That means that a glut of domestic wine caused by rapid planting has been reduced so that vineyards are able to get more for their product. Also, it may signal an increase in shipments of higher priced boutique wines. The increase came while several large wine exporting nations, including France and Australia, have been struggling with depressed worldwide wine market.

The Wine Institute says that 95 percent of all U.S. exports come from California. The export segment accounts for about 15 percent of the business done by California wineries. California has more wineries than any other state.

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