What would you do with 2,800,000,000 Bottles of Wine?
Funny! having mentioned a glut of wine and grapes in Washington USA last week there is an article in The Guardian about a glut of 2.8 Billion btls of Australian wines as a result of the ongoing dispute with China (China imposed tariffs claiming the Aussies were dumping wines etc).
That's equivalent to 100 btls per person in Australia. Jeez!
The problem here is the knock on effect on the growers with prices for grapes dropping rapidly.
And the figures are SCARY - you can read more at The Guardian but for starters ...
At its peak in 2020, export of Australian wine to China was valued at $1.2bn and made up 18% of export volume and 40% of value. Now annual exports are worth just $8.1m, contributing to a plummeting price for red varieties of grapes and a decline in domestic red wine prices.
That's equivalent to 100 btls per person in Australia. Jeez!
The problem here is the knock on effect on the growers with prices for grapes dropping rapidly.
And the figures are SCARY - you can read more at The Guardian but for starters ...
At its peak in 2020, export of Australian wine to China was valued at $1.2bn and made up 18% of export volume and 40% of value. Now annual exports are worth just $8.1m, contributing to a plummeting price for red varieties of grapes and a decline in domestic red wine prices.