24/06/2024
Australian Wine Exports to China Rebound Strongly After Tariff Removal, Minister Farrell Announces
Australian Trade Minister Don Farrell stated that after the removal of tariffs, Australian producers exported AUD 86 million worth of wine to China. He is very optimistic that Australian wine exports to China will fully recover.
During Australian wine's absence from the Chinese market, France has risen to the top, accounting for 47% of China's imported wine. Chile is next at 17%, followed by Italy and Spain. The recovery in exports will also help reduce Australia's current wine surplus, which was about 2.8 billion bottles last year.
The Australian government recently announced it will invest AUD 3.5 million in marketing funds to support the wine industry's next phase and promote sales in China, Japan, and the United States.
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