Vintners Pressed by Aussie's Rise
Vintners Pressed by Aussie's Rise
Jul 24, 2012 6
(WSJ) - Australia’s wine industry is turning sour as the strong local currency and a glut of grapes have driven export profits to a decade-low.
The value of Australian wine exports fell to 1.86 billion Australian dollars (US$1.91 billion) in the financial year that ended June 30, down from a peak of just under A$3 billion in the 2006-07 financial year and the lowest figure since 2001-02, according to government export agency Wine Australia.
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