New Zealand wine exports grew by 8% in volume in the twelve months to June, while the value of those shipments was almost flat.
At the same time, a smaller 2026 harvest is bringing production closer to demand, according to figures released by New Zealand Winegrowers.
Volume up, value nearly unchanged
New Zealand Winegrowers reported on Wednesday, September 23, that exports rose from 288.8 million liters to 306.2 million liters over the period. Their value reached NZ$2.108 billion, against NZ$2.1 billion the year before, so the improvement in volume was far larger than the improvement in revenue.
The industry body credits wineries and growers for adjusting their operations during a difficult period in both domestic and international markets. Its annual report says New Zealand wine continued to outperform the wider category in key markets, which it sees as grounds for confidence in the long term.
How New Zealand compares with Australia
Australia offers a useful benchmark. Over the same period it exported 598 million liters worth AU$2.3 billion, or about NZ$2.86 billion. That means Australia shipped almost twice New Zealand's volume and earned more, although the gap in value is much narrower than the gap in volume.
The comparison points to a difference in positioning. New Zealand holds a smaller share by volume but earns more per liter exported. Importers, distributors and supermarket chains watch this ratio closely, since it affects margins and the commercial strategy for Anglo-Saxon wines in different markets.
A 15% smaller harvest
The report also records a reduction in the 2026 harvest, which yielded roughly 440,000 tons, 15% less than the previous year. New Zealand Winegrowers argues that this brings production closer to current demand and supports its long-term growth goal, which is built on sustainability criteria. In other words, the sector believes that producing less after a period of oversupply can help correct the imbalance between stocks and sales.
Leadership: resilience and a new strategy
Fabian Yukich, president of the organization, said the year shows an industry that keeps moving forward despite the challenges in the wine market. He described it as a complex year for the international sector but maintained that New Zealand wine has shown resilience, and that changes by producers and wineries are pushing the industry toward a more balanced situation.
CEO Anishka Jelicich, who took office in July, attributed the results to the organization's new strategy. She said the goal is to strengthen the sector's standing through direct support for members, including information, institutional representation and practical assistance so that growers and wineries can make better-informed decisions.
Growth driven by quantity, not price
The modest rise in total value, well below the increase in volume, suggests the sector has not fully turned stronger sales into higher revenue per liter. Common causes in the wine trade include changes in product mix, promotional pressure in destination markets, or price cuts aimed at gaining share. New Zealand Winegrowers does not go into these details, but the gap between the two percentages shows growth led mainly by quantity.
What it means for buyers and sellers
More exports combined with a shorter harvest could reshape pricing and negotiations in the coming months if available supply tightens. That does not automatically mean higher prices, as consumption, stock levels and the pace of orders in each market also play a role, but it adds a variable that buyers and sellers tend to watch closely.
With 306.2 million liters exported and a smaller crop, New Zealand starts the new season with a different balance between production and demand. For a country so reliant on foreign markets, any shift in that ratio matters to traders, distributors and buyers, since it can influence availability and contract talks for the season ahead.
Source: Vinetur