Business
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.
Business
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.
News
In this week’s briefcase, Elders records its biggest profit in more than a decade, a huge outback green hydrogen project is flagged and 10 SA companies vying for national export awards.
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More than 40 per cent of South Australian wineries experienced a decrease in sales in the 2020-21 financial year as Chinese tariffs, labour shortages and the coronavirus pandemic generated unprecedented challenges to growth, a local wine industry report has found.
South Australian smartwatch company Spacetalk has signed a deal with its first European retailer as it prepares to launch in North America before the end of this year.
The State Government is offering up to $200,000 in grants to small and medium-sized businesses looking to expand into overseas markets, in a revamp of the SA Export Accelerator Program.
A record grape harvest this year on the back of a vanishing Chinese export market is expected to put a kind of pressure on the state’s wine industry not seen in more than a decade – but experts say it’s too early to predict if Australia is headed for a wine glut.
Crippling Chinese tariffs on Australian wine have resulted in the value of exports to its once-biggest customer plummeting from $325 million to just $12 million in the past four months.
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