Post by account_disabled on Feb 20, 2024 1:56:33 GMT -5
The equivalent of Olympic swimming pools full of wine splashing around Australia is testament to a brutal period for the country's wine growers. Two billion liters of Shiraz, Cabernet Sauvignon and other varieties have been stockpiled since China, the world's biggest buyer of Australian wines, imposed punitive import tariffs in 2020 as relations deteriorated during the Covid-19 pandemic, according to a report from an investment bank. Now, with a different government in Canberra, relations with Beijing are improving and China has lifted a series of sanctions on other key Australian exports, including coal and barley. Anthony Albanese, Prime Minister of Australia, raised the issue of wine tariffs with Chinese Premier Li Qiang at the Asean meeting in Jakarta this month.
Australian wine producers are interested in exporting wine, but China is also interested in receiving it," he said. But Australia's wine producers believe that even if they can once again sell Job Function Email Database to China, the trade has changed forever, and they fear many businesses will wither. “The market has collapsed, which means there is a lot of bulk red wine floating around with no home. “We have eliminated the biggest market on the proverbial country mile,” said Alister Purbrick, chief executive of family winemaker Tahbilk in Nagambie, northern Victoria, who has been in the industry since 1976. You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. Australia's wine industry, long one of the country's highest-earning exports outside of mining and raw materials, has tripled
Since the 1990s to reach around billion liters of annual production in. Trade body Wine Australia said there were more than 2,000 wineries across the country, employing 164,000 people and generating 40 billion Australian dollars ($25 billion) annually for the economy. However, the value of wine exports fell 10 percent to A$1.86 billion in the year to June 2023, according to the trade body, the lowest level since 2014. Before tariffs were introduced, China was by far the largest market for Australian wine in terms of value. According to the Australian Grape and Wine Trade Body, China contributed billion to the industry, more than double that of the United Kingdom or the United States, the next largest export markets for Australian wine. So far this year, that figure has dropped to about A$8 million, according to the trade bod.
Australian wine producers are interested in exporting wine, but China is also interested in receiving it," he said. But Australia's wine producers believe that even if they can once again sell Job Function Email Database to China, the trade has changed forever, and they fear many businesses will wither. “The market has collapsed, which means there is a lot of bulk red wine floating around with no home. “We have eliminated the biggest market on the proverbial country mile,” said Alister Purbrick, chief executive of family winemaker Tahbilk in Nagambie, northern Victoria, who has been in the industry since 1976. You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. Australia's wine industry, long one of the country's highest-earning exports outside of mining and raw materials, has tripled
Since the 1990s to reach around billion liters of annual production in. Trade body Wine Australia said there were more than 2,000 wineries across the country, employing 164,000 people and generating 40 billion Australian dollars ($25 billion) annually for the economy. However, the value of wine exports fell 10 percent to A$1.86 billion in the year to June 2023, according to the trade body, the lowest level since 2014. Before tariffs were introduced, China was by far the largest market for Australian wine in terms of value. According to the Australian Grape and Wine Trade Body, China contributed billion to the industry, more than double that of the United Kingdom or the United States, the next largest export markets for Australian wine. So far this year, that figure has dropped to about A$8 million, according to the trade bod.