Australian wine producers have years of struggle ahead as they seek to fill the void left by China effectively cutting itself off as a major market.
The Asian superpower last year accused Australian winemakers of “dumping” – selling below the cost of manufacturing their products in a bid to increase market share – and imposed an interim tariff of 175.6 per cent while its investigation was under way.
But the company said it had “increasing confidence” around its plans to divert luxury wine previously destined to China to other markets. “However, the five-year tariff removes a source of optimism some investors had for Treasury Wine that such an elevated level of anti-dumping duty could be sustained,” Ord Minnett said.Source:News Limited
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