Australian wine exports jump by a third as China resumes buying

(Oct 22): Australia’s wine exports jumped by more than a third, boosted by an increase in shipments to China after the Asian nation lifted tariffs. The value of shipments in the year through September rose 34% to A$2.4 billion (US$1.6 billion or RM6.9 billion), its highest since the 12 months through August 2021, according to Wine Australia. That follows a recovery in supply to China and Hong Kong after Beijing in late March lifted punitive tariffs of as much as 218% on Australian wine put in place three years earlier. “It will take time before it is evident how Chinese consumers are reacting to having Australian wine back in market,” said Peter Bailey, the manager for market insights at Wine Australia. “Despite this recent growth in exports, it is increasingly important to pursue market diversification and defend our share in other wine markets.” The value of shipments to mainland China ...