EXCEPTIONAL growth in demand for Australian fine wine saw the total value of exports grow by 3 per cent to $2.91 billion in the 12 months to December 2019.

Exports of higher valued wines – those above $10 per litre free on board (FOB) – reached a record value of $1.1 billion, according to Wine Australia's export report.

But the decline was strongest for exports below $2.50 per litre FOB, wit...