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China’s punitive tariffs of up to 218% on Australian wines are not only corking Australian wine exports, but also having a “detrimental impact” on Australia’s performance in the secondary market, according to Liv-ex.
More than 11 tons of Australian wines were blocked from entry in China due to what customs authorities cited as using excessive food additives and labeling issues.
Australian wine giant Treasury Wine Estates’ stock prices rose 8% on news of a potential buy-out from France’s biggest drinks and beverage owner, Pernod Ricard.
China’s leading supermarket operator, Yonghui Superstores, is betting big on wine, buoyed by the country’s wine consumption potential.
China’s October wine imports surged for the first time this year as merchants rush to stockpile Australian wines before any hefty punitive tariffs that have now come into effect this month.
Australian wine giant Treasury Wine Estates has officially halted its plan to demerge its most popular wine brand, Penfolds, as its biggest export market China mounts tariff threats and wine ban.
In a significant escalation of tensions, China has ordered merchants to stop purchasing at least seven categories of Australian commodities including wine starting from this Friday, according to a leaked memo.
Is New Zealand’s wine at the risk of being targeted by China following investigation into its Australian neighbor?
China’s wine imports in the first six months of the year slid due to Covid-19, with Chile seeing the sharpest decline among all countries of origins.
China’s thirst for wine has led to a global vineyard purchasing spree. Here, we have mapped out well-heeled Chinese buyers’ global acquisitions.