Solid growth was seen in the value of Australian wine exports to Asia in the year ended August 2008, according to Wine Australia, with the value shipped to Asia increasing by 6pc to $262 million and its value share increasing from 8pc to 10pc.

Wine Australia says stand-out markets were China (up $9 million or 17pc), Hong Kong (up $7 million or 24pc), and South Korea (up $1 million or 10pc).

However, it says the results comes on the back of a decline in the total volume of Australian wine exported to 702 million litres, and also a marginal decline in average price to $3.73 per litre. Total value also fell to $2.6 billion.

Wine Australia says the overall average price outcome was assisted by a strong bulk wine price increase of 20pc to reach $1.23/L, resulting from an expected shortening of bulk wine availability following the 2007 harvest.

However, the impact of this bulk wine price increase was lessened by the consequent smaller share of bulk wine in the mix and a more than offsetting 7pc decline in the bottled average price to $4.47/L.