Australian winemakers may soon regain access to the Chinese market as Beijing signals a potential lift on wine tariffs. Chinese Foreign Minister Wang Yi's upcoming visit to Australia sparks hope for improved relations despite tensions. Taylors Wines anticipates challenges in reclaiming market share from French and Chilean competitors. Australia faces overproduction issues, with millions of vines being destroyed to stabilize grape prices. The declining global wine consumption hits Australia hard, especially in China, its key growth market.
Cases of Australian wine are sitting in Hong Kong’s warehouses, much more than the city's residents can drink (safely). Grudge-holding officials in Beijing are fermenting this trouble—but perhaps not for much longer https://t.co/lFygHDUpi7 👇
Falling consumption of wine worldwide has hit Australia particularly hard as demand shrinks fastest for the cheaper reds that are its biggest product, and in China, the market it has relied on for growth until recent years https://t.co/EA8DFSiHZV https://t.co/b4cz3ef1kl
While noting China’s relations with the US have improved, foreign minister Wang Yi also showed his pugnacious side, calling America “obsessed with suppressing China,” and questioning US “credibility as a major power,” at a press conference in Beijing. https://t.co/jWBxGWXvDX
Millions of vines are being destroyed in Australia and tens of millions more must be pulled up to rein in overproduction that has crushed grape prices and threatens the livelihoods of growers and wine makers https://t.co/EA8DFSjfPt https://t.co/PZdxxYKZ6H
Australian winemaker Taylors Wines sees challenges in rebuilding its brand in China once tariffs end, after French and Chilean vintners snapped up market share https://t.co/PZ6jfyr4eG
Ahead of Wang Yi's visit to Australia next week (the highest ranking visitor since 2017), Australia's regional policies get three negative questions in Wednesday's FM presser, full of the usual foreboding censures.... https://t.co/pETQmiru2b
Chinese foreign minister’s visit to Australia locked in hours after Beijing signals wine tariff lift https://t.co/WbuzoffvsU
Australian winemakers' years-long freezeout from the lucrative Chinese market could soon be over. #9News https://t.co/hnZ4nZrT5u