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News
Small export recovery gives hope to struggling wine industry
The value of Australian wine exports has increased for the first time since China imposed crippling tariffs on the local industry in 2020.
News
The value of Australian wine exports has increased for the first time since China imposed crippling tariffs on the local industry in 2020.
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Business
The volume of wine exports to all six of Australia’s biggest customers fell in the 12 months to September 30 despite efforts to find new markets in the wake of crippling China tariffs.
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A lack of reliance on exports to China, a booming UK retail market and the “outstanding success” of its new alcohol-free wine range is paying dividends for listed wine company Australian Vintage Limited.
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.
The recent announcement of harsh Chinese tariffs on Australian wine imports will devastate South Australia’s huge wine industry. But the magnitude of the blow could have been significantly reduced if Australian producers had pursued greater diversification in their export strategies, argue Flinders University Professor Roberta Crouch and Dr Nathan Gray.
Australia’s largest listed wine company Treasury Wine Estates has unveiled its plan to reduce the impact of harsh Chinese tariffs as its share price continues to slide.
