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Australian wine exporters offered $1.3 billion value of wine a yr to China earlier than punishing tariffs have been imposed in November 2020, which made it virtually pointless to maintain promoting into that market.
A resumption of commerce to China in 2023 can be a plus for the broader Australian wine trade as a result of there was an oversupply of purple wine that hadn’t been capable of finding a house.
Learn extra how Australian winemakers are gun-shy about China but the profits are too big to ignore.