Australians see silver lining in import surge
Australians see silver lining in import surge
Jan 30, 2012 6
(Decanter) - The surge in foreign imports to Australia should be welcomed not feared, Australian wine professionals say. A combination of a strong Australian dollar and aggressive discounting by Australian supermarkets has led to a drop in the price of European wines, and a surge in imports.
Since 2007 wine import volumes have risen from some 6% of total wine consumption to around 16%, while French wine imports have gone up by 58%. The strong dollar has also caused export volumes to fall. Treasury Wine Estates, owner of Lindemans and Penfolds, reported sales in the United States fell by 15% in the first half of 2011.
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