Reported 8 months ago
Australia's wine industry faced significant challenges with Chinese tariffs, resulting in loss of market share and profits despite efforts to mitigate the impact. This serves as a cautionary tale for EU food and drink sectors amidst the EU-China trade dispute. While some larger players managed to adapt, overall exports declined by 34% in 2023 compared to 2019. Australian wine makers emphasized the need to diversify markets and not overly rely on China, with some finding success in other regions like the U.S. and southeast Asia. Tariffs have been lifted, but the industry still faces challenges in rebuilding lost market share and profits.
Source: YAHOO