General
Red wine prices tipped to plummet as exports to China trickle to a halt
The price of red wine is set to plummet as the effects of trade tariffs take hold, with new data from China showing Australian wine imports there down by about 75 per cent since trade tensions began.
Key points:
- Winemakers are being encouraged to return to traditional markets including the UK, US and Germany
- Market analysts predict producers will start to see a falling wine and grape price
- People in the sector don’t hold much hope tariffs will be reduced anytime soon
Tariffs ranging from 107 per cent to more than 200 per cent were introduced late last year after China accused Australia of selling wine at below the cost of production, a suggestion winemakers reject.
The impact was partially captured in Wine Australia’s annual report that…
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