Treasury Wine Estate (TWE), the parent company of popular Australian wine brand Penfolds, revealed its revenue in mainland China has plunged by more than 97% or about AU$76.2 million from July to December 2021 due to China’s crushing anti-dumping tariffs. Read More
Australian wine
Customs officers in Shenzhen Bay Port have seized RMB 1.5 million (US$ 236,637) worth of fine wines smuggled from tax-free Hong Kong to mainland China, mostly consisting of Australian wines. Read More
China’s harsh anti-dumping tariff imposed on Australian wine has cost Australian wine industry AU$ 1 billion, according to the country’s wine trade body, resulting in a 30% decrease in Australia’s overall wine exports last year. Read More
Secondary market activity for Australian wine experienced significant decline as a result of Chinese anti-dumping tariffs, as reported by Liv-Ex. Read More
The Australian wine giant Treasury Wine Estates (TWE)’s plan to make Chinese Penfolds to bypass China’s punitive tariffs on Australian wine was met with doubts and skepticism from Chinese analysts and industry insiders, in a recent article published by state-owned media. Read More
Penfolds, the Australian flagship brand from Treasury Wine Estates, is now joining the emerging non-fungible token (NFT) trend by launching its first NFT. Read More
China’s crippling anti-dumping tariff of up to 218% have essentially upended Australia’s wine market in China, and it appears any access to the market will be even harder for Australia, as it ranks as the top country of origin rejected by Chinese customs upon entry. Read More
Penfolds, the Australian flagship brand from Treasury Wine Estates, has announced the final release of its ultra premium "g" series trio - g5 - blending five vintages of Granges, following the launch of Penfolds g3 and g4 in 2017 and 2020 respectively. Read More
The World Trade Organization (WTO) has formally agreed to set up an investigative panel to examine China’s anti-dumping tariffs on Australian wines, a move that will likely anger China after it first blocked Australia’s request in September. Read More
Australia's e-commerce and technology business WithWine, has recently announced that former wine auctioneer and retail executive Andrew Caillard MW has joined the leadership team as Associate Director. Read More