They say more than $1 billion of wine has been shipped to China alone since June 30, 2018 - with the country’s growing desire for quality red wine driving the huge spend. And it seems the foreign demand for Australian wine doesn’t stop there.
Researchers said: ‘To put this into context over the same period, Spain exported the equivalent of Australia’s total production in bulk wine exports at two thirds of the price.’
The increased demand comes after a ‘challenging decade’ for the Australian wine industry, with some producers being forced to sell at below cost.
‘Generally, less favourable growing conditions in South Eastern Australia will lead to a smaller 2019 wine grape crop compared to 2018,’ the researchers said.
‘This will increase demand for wine grapes and place upward pressure on fruit prices and vineyard values.’
Guess we should head to Dan Murphy’s and stock up, right? Just in case ...
