The Australian wine group cut customer inventories in China by 200,000 cases, but distributors offered a more cautious assessment of underlying demand.
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Inventory
Penfolds has suspended new orders for its flagship label for three months as inventories swell, prices slide and distributors struggle to make money. Read More
The European Union has allocated €40 million (US$46.4 million) to support French wine producers to turn excessive red and rosé wines into industrial alcohol. Read More
A wine merchant in Hainan, China’s southernmost province, has been fined more than 100 times the retail price for selling expired Moscato from Accolade Wines, Australia’s second-largest wine producer, amid ongoing struggles to deplete aging inventory. Read More
After three years of rapid growth, Korea's imported wine market is experiencing a downturn as home consumption decreases and inventories accumulate. Read More