Wine oversupply significant

August 18, 2023 9:17 am in by

While local wine producers remain hopeful the once lucrative Chinese market will return, it could still be a rocky road ahead.

Recently trade tensions eased on Australian Barley seeing some local optimism however wine Australian wine tariffs remain for now.  

A recent report from Rabobank outlined that should tariffs be removed, the current oversupply would take at least two years to resolve.

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The Riverland wine industry has been hit significantly since tariffs were imposed, with Australia’s Wine exports dropping 33% in the past two years.