News Snapshot:
The extent of the destruction of Australia’s once lucrative $1.3 billion wine export market to China via punishing tariffs imposed by the Chinese government has been outlined in official figures by Wine Australia. The latest export data announced on Tuesday showed that in the 12 months ended September 30 exports to China plunged by 92 per cent to just $21 million. This compares to annual exports to China of $1.3 billion three years ago for the 12 months ended September 30, 2019. While Australia’s 1,150 wine producers have been diversifying to other countries with the China market effectively closed, the...
