(Image: Wine Australia)Australia’s glut of wine, estimated at an oversupply of more than two billion litres, should have only limited spillover into the New Zealand wine sector, the head of NZ Winegrowers says. In March 2021, China set duties of between 116%-218% on bottled Australian wine imports and those are set to last until 2026. The ripple effect has seen total exports by value fall by a third over the past two years, according to Wine Australia. Rabobank research associate Pia Piggott said there could be some impact in realising value for NZ wine into the Australian market. Piggott said sales of NZ wine into Australia have grown strongly over the last 12 months, but inflation for wine in Australia remains quite low due to the grape surplus.

Source: New Zealand Herald August 18, 2023 06:51 UTC