China accounts for 4 percent of Chile’s fine wine exports

Chile’s exports of denomination of origin wines soared 19 percent to $503.9 million in the January-May period, compared to the same period in 2010, the Agriculture Ministry said Thursday.

Export volume totaled 151 million liters (39.8 million gallons) during the first five months of this year, up 9.1 percent from the same period in 2010, the ministry’s Office of Agricultural Research and Policy, or Odepa, said.

Prices have also been rising and exports of fine wines could total about $1.4 billion this year, Odepa director Gustavo Rojas said.

This figure represents more than 80 percent of the $1.73 billion in total wine exports projected for 2011, Rojas said.

The average price registered in the January-May period was $3.30 per liter, up 9.2 percent from the same period in 2010.

The main markets for Chilean denomination of origin wines this year have been Britain (15 percent); the United States (14 percent); the Netherlands (7 percent); Japan (6 percent); Canada (6 percent); Brazil (6 percent); and China (4 percent).