Wine Australia pulls plug on China Roadshow and China’s biggest wine fair
With crushing tariffs on Australian wines and international travel restrictions due to the coronavirus pandemic, Australia is sobering up to a costly China fallout.
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With crushing tariffs on Australian wines and international travel restrictions due to the coronavirus pandemic, Australia is sobering up to a costly China fallout.
China’s wine market has yet to get its mojo back and consumer sentiment for wine is still cautious, as the latest data showed.
A few Chinese-owned Australian wineries are reporting unfair treatment and abuse after a social media campaign emerged in Australia calling for consumers to boycott 41 Chinese-owned wineries in the latest wine-related trade spat.
Australia’s second biggest wine group, Accolade Wines, is putting two of its wineries up for sale as part of the group’s decision to restructure its south Australian operations.
A collection of Penfolds Grange spanning from its inaugural 1951 vintage to 2015 vintage was sold for a record price of AU$431,000 to an anonymous buyer in Sydney, smashing its previous record from last year.
China further inflicted more punitive tariffs on Australian wine today, less than two weeks after smacking a crippling 212% tariff. Is this the final nail on the coffin?
In this explainer, we break down in detail how the new tariff on Australian wines is going to be calculated and how long it’s going to last.
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.
China has announced today that it will slap up to 212% temporary anti-dumping tariff on Australian wine exports starting from this Saturday. See the full list of tariffs levied on each Australian company here.
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.