
Wine report confirms massive Australian glut
More than two billion litres of unsold Australian wine is sitting in storage following a record 2021 vintage and a slump in exports and domestic sales.
More than two billion litres of unsold Australian wine is sitting in storage following a record 2021 vintage and a slump in exports and domestic sales.
China’s decision to slap punitive tariffs on a range of Australian goods has already cost more than $6 billion in lost exports, with Adelaide researchers warning regional South Australia has borne the brunt of the ongoing diplomatic dispute.
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Exports of Australian wine fell by more than $100 million in the last three months of 2020, signalling a tough year ahead for local companies as Chinese tariffs hit hard.