Australian Grape & Wine has been awarded a $1,817,000 Agricultural Trade and Market Access Cooperation grant to improve trade and grow demand in diversified international markets for locally produced premium wine.
Following the announcement, a $989,000 grant was given to Wine Australia to support a wine industry consortium and build an online pricing and market data digital analytics platform for greater transparency throughout the supply chain.
Australian wine is recognised among the best in the world, and expanding its markets will see demand for its premium product grow across the globe, minister of agriculture and Northern Australia David Littleproud said.
“It is great to see the industry – led by Wine Australia, Australian Grape and Wine, and the Inland Wine Regions Alliance – coming together to deliver these outcomes,” Littleproud said.
The funding would support Wine Australia to work with ABARES on improved wine grape price forecasts and build on the success achieved by Australian Grape & Wine in expanding export market opportunities in Japan and South Korea.
The grant will help Australian Grape & Wine improve market access, tackle trade barriers, and generate growth in key target export markets, including the United States, Canada, United Kingdom, Southeast Asia, India, and Scandinavia.
The benefits go beyond the wine sector, driving jobs and growth across regional Australia and helping contribute to the goal of increasing the value of Australian agriculture to $100 billion by 2030.
The funding will focus on three key pillars of work to improve trade and grow demand for Australian wine exports, Australian Grape & Wine CEO Tony Battaglene said.
“We’re going to build consumer understanding of Australian wine through expanding promotion, improving trade and market access, and initiating a long-term strategic collaboration with India to enable future potential and support broader trade relations,” Battaglene said.
Wine Australia will see better market data, insights, and information available to the sector, helping all players make better business decisions and mitigate against bargaining power imbalances.
This project would fill a significant knowledge gap in the domestic market, Wine Australia general manager Rachel Triggs said.
“Independent price forecasts will help 6,000 independent growers negotiate prices and make informed decisions about future production,” Triggs said.
“Reliable data on domestic sales will offer a clearer picture of supply-demand balance term and help identify trends, while robust price forecasting will redress imbalances and increase market efficiency.”
Wine Australia will partner with Australian Grape & Wine, using its experience in market insights, platforms, and marketing.
The work will also utilise the expertise of Austrade, the Australian government’s agricultural counsellors, and the broader diplomatic network.
The Australian government’s grant to Australian Grape & Wine and Wine Australia will support the growing demands in the wine industry.