One of the biggest, if not the biggest supplier of A and B grade wine grapes to Treasury in South Australia, who I know, has said that China is dead to Australia from a wine perspective. They cut 1800 tonne's from their McLaren Vale contracts for Shiraz in the last couple of months. 1800 tonnes doesn't sound much but that's from ~ 35,000 total from McLaren Vale ~ 5%. Its a big deal in McLaren Vale one of the worlds most premium wine area's. So in short forget China. That boat has sailed. IF Treasury go down the path of making China Penfolds how long before the Chinese are exporting it without Treasury knowledge or permission? They have been for years counterfeiting Penfolds, and others, with complete confidence the gov will do nothing and I would say probably with gov permission.
TWE Price at posting:
$12.12 Sentiment: None Disclosure: Not Held
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