Penfolds Adjudged Most Admired Wine Brand

Good times are in for Australia's wine sector. The latest to cheer the industry is Penfolds, South Australia's leading winemaker, winning the coveted award of world's most admired wine brand. The honour for the brand came at the Drinks International magazine's annual poll, which was judged by 200 industry experts. Penfolds is part of the Treasury Wine Estates.

"After 172 years in the wine business, we're still hungry, still excited and still eager to make better wine and champion new followers," chief winemaker Peter Gago told News Corp.

Meanwhile, Australian wine makers are gearing up to showcase 500 native wines at the largest Wine Australia stand at ProWein in Germany.

According to Wine Australia GM Marketing, Stuart Barclay, the local exhibitors will take full advantage of the favourable conditions for overseas sales, reports The Shout.

"Prowein 2016 is an excellent opportunity to capitalise on growing international interest in the Australian fine wine offering. Exports grew 14 per cent in value in 2015 to $2.1 billion, and the strongest growth, of 35 per cent in the last year, was in wines over $10 per litre. Exports of these wines have reached $480 million, a record amount," Barclay said.

He said 500 wines from 21 regions of Australia will offer a wider platter of varied styles and brand equity. Barclay also confirmed that Wine Australia would be hosting two master classes during the event.

Meanwhile, there is more good news at the export front. Many new countries are seeking out Australian wines. They include Christmas Island and Nauru.

Thanks to the growing list of importing countries, Aussie wine had its exports surging 14 percent in the past decade and touched $2.1 billion, reports The Daily Telegraph.

According to the latest data, the Australian wine exports are rocking in top 15 export markets. The strongest has been China market with its 66 percent growth with the value zooming to $370 million.

Among the new countries seeking out Australian wines are Antarctica, Brunei and Iraq, besides wine powerhouses like Italy, France and Germany.

Source: australianetworknews

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