And it appears to be working, albeit modestly.

For the first time in five years Australian winemakers have increased the average price of wine exports, The Australian Financial Review reports. Premium wines, particularly cabernet sauvignon and shiraz, are becoming more popular overseas.

According to statistics from Wine Australia, the average price per litre rose 1 per cent to $2.69 in the 12 months ended December 31 – its highest level in two years.

Yet, the pain endured by winemakers from a sustained grape glut, a high dollar and retail consolidation is far from over.

While the average price per litre may have jumped, exports fell 10 per cent to 703 million litres as producers struggled to sell cheaper wines, which account for more than half the nation's exports.

Wine exports to Europe sank but sales to Asia rose.

Sales of wines priced below $5 per litre fell 19 per cent to $876 million. There was a 1 per cent gain for wines above $5 a litre to $646 million.

Cheaper wines are often referred to as "commercial" wines for the cash they generate.