Chinese thirst for Australian wine has tripled
THE Chinese can't get enough of Aussie wine.
That's the finding from a Colliers International report that indicated Chinese thirst for Australian wine has tripled since 2013/14, with the total value of wine exports expected to reach $595 million in 2016/17.
China continues to be the key growth market for wine exports, after the more established markets in the US and UK which are still the largest importers of Australian wine.
Colliers International Rural and Agribusiness Research and Forecast Report (March 2018) shows wine is Australia's fourth-largest agricultural commodity with a total export value of $2.64 billion, and a significant 12 per cent increase on last year.
The increased profitability of citrus enterprises, coupled with the lack of buying opportunities for purchasers has spiked demand for mature citrus orchards, with some notable transactions showing nearly 100 per cent increase in values in less than three years.
Colliers International Head of Rural and Agribusiness Rawdon Briggs and National Director Transaction Services Tim Altschwager agreed there was a "strong appetite for investment in Australian agriculture from farmers and agribusinesses, as well as investors”.
"We haven't seen this level of activity in 10 years - some properties have seen nearly 100 inquries in recent weeks,” Mr Briggs said.