Business
Australian wine China: Wine export market a ‘basket case’ after $1.3b China hit – The Australian Financial Review
The proprietor of one of Australia’s largest family-owned wine groups, Yalumba Wines, says impairments are likely to ripple through the industry.
“There is no other red wine export market anywhere else that is capable of absorbing what Australia sells to China.”
Other Asian markets were too small and India was highly complex.
He said Yalumba and its sales arm Negociants had been fortunate in being slower than many others in the industry to build an export business into China, although that market represented about 10 per cent of international sales.
“We’ve been much more focused on the United States, Canada, New Zealand, the UK,” Mr Hill-Smith…
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