Aunty gets to the nub of the wine industry's China problem:
The problem is no other market comes close to China's size or value.
"The price we average in China can be twice as high as other markets," Mr Soccio observed."So it's all well and good shifting sales into other markets, but can you do it profitably? That's really going to be the trick for producers."
https://www.abc.net.au/news/2020-08-27/chinese-australian-wine-insiders-say-no-dumping-no-subsidy/12602172?section=business
The Chinese Communist Party is punishing the Australian Government for resisting its appalling behaviour. yet the long term consequence may well be cheaper plonk for apparatchiks.
This will hit TWE hard. Not yet reflected in the share price.
Ash
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Last
$7.63 |
Change
-0.050(0.65%) |
Mkt cap ! $6.191B | |||
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| TWE (ASX) Chart |