Price drop prompts warning for wine industry
By Wine Atlas, Saturday 25 June 2005 :: Wine - Australia :: #12 :: rss
Australia's wine industry is being warned to look to new markets or risk further price drops.
Production has peaked at 1.3 million litres of wine, with the UK our biggest customer.
But while exports are on the rise, the value of wine is falling, to average $4.19 a litre.
Neil Burgess from Rabobank says the Australian wine industry needs to target markets such as Canada, Germany and Russia.
"A lot of the wine producing countries are getting much smarter, and are actually now targeting specific markets who they want to sell to," he said...
Source : abc.net.au
