China has become a catastrophe for global winemakers,but Aussie vintners think they can buck the trend.
Many economists are concerned a new trade war between the world’s two biggest economies will have flow-on consequences for Australia.
Rising demand from Asian countries has propelled exports in this category to almost $20 billion,making Victoria number one in the nation.
Australia’s long-running dispute with China on wine tariffs is close to ending ahead of a trip to Beijing by Prime Minister Anthony Albanese.
The Australian wine industry is seeking more assistance in finding new markets for wine as the nation grapples with a two-year oversupply.
China’s hefty import duties have inflicted deep scars on the local wine industry and triggered an oversupply that could fill 859 Olympic pools.
Wine producers are optimistic China’s wine tariff will be the next to be removed following the backdown on barley,but warn sellers will be cautious about an overreliance on the Chinese market.
Business leaders have been given reason to hope that relationships with China can be reset and tariffs can be lifted.
A warming planet is spurring Tasmania’s reputation for producing stellar sparkling wine,led by an unlikely rock-star winemaker.
In the heart of Australia’s wine-growing regions,China’s hefty trade strike has been a fatal blow for many vineyard owners and winegrape growers.