Wine
Some of South Australia’s most unique and rare bottles of wine will go under the hammer in the biennial Barossa Wine Auction, led by an imperial-sized bottle of 2016 Penfolds Grange.
Business
Treasury Wine Estates has reported a 24 per cent fall in net profit after tax to $175.3 million for the first half of the financial year, citing ongoing impacts of the coronavirus and Chines tariffs for the result.
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Guests attended Mother Vine in the East End for the launch of the first of three collaborations between winemakers and Langhorne Creek, called Project 5255.
The state’s wheat farmers are bracing to be the next target of Chinese sanctions as more tariffs on Australian wine kick in.
Australia’s Trade Minister says it’s “deeply frustrating” that China refuses to discuss its “unacceptable” targeting of Australian exports, with lamb joining wine, beef, coal, barley and timber on the unofficial hit list and wheat and cotton producers bracing as the trade dispute worsens.
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.
