Australia winemakers toast mainland, HK rescue in dismal year

Asia had a thirst for Australian wine last year, with an industry report naming Hong Kong, the mainland and Japan among its top-five growth markets in an otherwise dismal year.

Low-yield harvests and a strong currency placed enormous pressure on Australian winegrowers, driving down the value of exports for the first time in 15 years.

But while the value of exports to Europe and North America fell by up to 25 percent, Asian exports grew 8 percent.

China was the top growth market, with a 32 percent increase in value of imports to US$52.5 million (HK$409.5 million).

Hong Kong ranked third, following the removal of excise tax on wine, with exports up 17 percent and valued at US$36 million.