In March 2021, China put a large tariff on any imported wine from Australia, it's the largest supplier. This blog covers the economic impact on the wine industry in Australia and China, the background to the current situation, and what lies ahead for the wine industry.
globalEDGE Blog - By Tag: wine-industry
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The Wine industry is taking an international hit, with it now being called, “the worst time since prohibition for fine wine producers”. With three main trends all converging, the wine industry is taking a serious hit. First, let's understand the industry as a whole.
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2018 might be the year that you see an increase in the price of your favorite bottle of wine. In late October, the International Organization of Vine and Wine (OIV) released its annual report of 2017 wine production levels around the world, and the results exposed several indications for concern about the performance of the global wine industry. The OIV estimated a fall of 8.2 percent in global production to the lowest level the industry has experienced in 50 years. This decrease is equivalent to around 2.9 billion bottles of wine.
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South Africa is one of the most prominent wine-producing countries in the Southern Hemisphere. With more than 300 years of winemaking history, it is now the ninth-largest producer of wine in the world, with some 250,000 acres under vine. The wine tasting trip to Stellenbosch provided the perfect introduction to the South African wine industry.
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Wine production is a source of great pride for many French citizens. Partners throughout the global supply chain are proud to take part in an industry with such cultural importance. Change is not easily embraced in an industry with so much history and a rapidly aging workforce. Regardless, to make products more affordable and accessible there has been a push to use plastic wine bottles. There are clear advantages and disadvantages associated with this trend, but its popularity amongst consumers is becoming increasingly difficult to ignore.
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Christmas in Germany is coming early this year, in the form of jobs. Department stores require much more seasonal help around Christmas, and the result is a huge boost to the economy; In Germany, it means 2,500 Christmas markets generating 188,000 jobs, and revenue figures of around €3- €5 billion a year.
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In the month of June, Chile saw a 22 percent jump in wine exports. This could be due to a rebounding economy. It could also have to do with the fact that Chile is producing more wine than ever, and at a better quality than it ever has. Given the positive direction that Chile’s wine industry is heading, what implications does this have for the economy and other businesses in Chile?
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Just as the housing and stock bubbles burst, it appears that wine’s bubble may be figuratively bursting as well. In Bordeaux, France, numerous wine tasters and connoisseurs gathered this week to sample and possibly purchase many of the vintage versions of 2008’s premiere wines. However, amidst a global recession, many of the big spenders who splurged on such delights have sobered up a bit. The result is an uncertain future for the wine market, as well as other aspects of the food and beverage industry.