AUS: Tips for Barossa wine industry
AUS: Tips for Barossa wine industry
Nov 23, 2010 6
The strong Australian dollar could force some Barossa wine producers to go bankrupt, says member for Schubert Ivan Venning. But an industry expert says there is a way local wine businesses can overcome the effects of the soaring currency exchange rate. Mr Venning has told state parliament the surging Australian dollar is causing extra hardship on the already-struggling industry. The Australian dollar has reached parity with the American dollar over the past month.
Mr Venning said the industry has been experiencing difficulties for years, with oversupply and low prices, drought and water shortages – and now the rise in the Australian dollar could further cripple the industry.
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