Business
A more than $400 million drop in wine exports to China since January 1 drove a 10 per cent decline in global shipments of Australian wine in the 2020-21 financial year, figures released today by Wine Australia show.
Business
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.
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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.
Exports of premium Australian wine have reached a record value of $1.1 billion but the high could be short-lived as concerns emerge over the impact of coronavirus on China and declining North American sales.
South Australian wine baron Warren Randall has made a string of acquisitions aimed at fuelling his booming Chinese sales, with the latest purchase his first vineyard in Australia’s largest grape-growing region.
