AUS: Chinese poised to snap up wine industry bargains
AUS: Chinese poised to snap up wine industry bargains
Apr 18, 2011 6
A wine industry advisory firm warns overseas buyers, especially from China, are queuing up in expectation Australian grape growers are about to hit rock bottom.
A high Australian dollar, grape glut and a disease-affected vintage have pushed growers to their limits.
Industry adviser Toby Langley says overseas buyers are looking for bargains.
"There's been a lot of Asian interest, we've opened an office in China to capitalise on Asian interest," he said.
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