The Australian wine industry is finding positives after tariffs put an end to a boom in China. But an industry leader says losing a massive market is not the biggest problem producers face.
Wine exports to mainland China are scraping the bottom of the barrel, with only six million litres exported in the past financial year, worth $24.6 million.Wine exports to mainland China have fallen from 120 million litres a year to six million litresExports to countries other than China are up five per cent to $2.06 billion
Overall it has been a tough financial year for Australia's wine producers with exports down 10 per cent in volume to 625 million litres and down 19 per cent in value to $2.08 billion in the year ending June 30. "It's been a slow burn the US but we're seeing some strong growth in value, particularly above $10 per litre even though there was growth in almost all price segments," he said.
But the gains were offset by a drop in the United Kingdom, a market that had been the largest by volume and value in the past year.That market dropped 10 per cent in value to $421 million but was still the largest market by volume, despite a 15 per cent decline to 227 million litres. Salena Estate Wines owner Bob Franchitto said he was concerned about more than just the tariffs into China.
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