By Ian Neubauer
A Rabobank paper on Australia’s wine opportunities in the US did not provide new insight to the sector, according to a new report published by the Australian Wine and Brandy Corporation (AWBC).
Released on Friday (September 5), the AWBC’s Market Insight Report credits the international investment bank for its important role in briefing the financial community on the market for Australia wine.
It said the paper was correct in observing the importance of educating consumers on Australian wine’s attributes to gain recognition on a national level and expand the Australian offer overseas.
However, it said the observation had formed the basis of the industry’s thinking for some time now and had been outlined in ‘Directions to 2025’, an industry strategy for sustainable success released in May last year by the AWBC in conjunction with the Winemakers’ Federation of Australia (WFA).
“It said the Australian wine industry needs to be focused on strategy, but this has all been documented before,” said AWBC spokesperson, James March.
“We know opportunities are there for us to create value to get higher price points… to say ‘Here’s a reason to pay more for our wine because there’s a story to tell’.”
Rabobank was contacted for comment but did not reply by the time this story went online.
The AWBC’s Market Insight Report offers information on growth prospects, market shares of Australia’s main competitors and market opportunities for Australian wine. It is available only to AWBC levy payers and approved sector organisation and is subject to specific conditions of use.
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