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Australian wine prices plummet by more than 40%!

 Last Update: 2022-03-02
 Source: Internet
 Author: User

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Australia's winegrowers are facing losses from grapes rotting in the fields that they can't try to make up
as farm prices plummet by 40 per cent .

Robinvale, Victoria, grower Phillip Englefield said prices for red wine varieties, which were $550 a tonne last season, have fallen to between $300 and $330 a tonne
.

"The real difficulty is we're going to have a lot of fruit that we won't be able to sell," Englefield said
.

Meanwhile, bulk wine expert Jim Moularadellis said the triple whammy of losing the Chinese market, doubling transportation costs and Covid-19 restrictions have caused prices to plummet in the wine market
.

"Buyers are reducing the supply of red grapes that are not under contract
.
This includes buyers who do not have direct access to the Chinese market, as the wine market affects wineries across the country
.
"

　　"White wines are selling at more normal prices, but they're under the same pressure
.
"

　　In response, Chris Dent, chairman of Murray Valley Winegrowers, said: "With the price of red grapes already under contract falling (almost half of what they were two years ago), in some cases uncontracted fruit will be difficult to sell
.
"

　　"Thankfully, despite the ongoing challenges, we hope that the white grape varieties will help offset the fall in red grape prices and help growers through this year's harvest
.
Demand for white grape varieties remains.
, accounting for 50% of Murray Valley plantings
.
”

　　The Australian Grape and Wine industry group reported this month that wineries harvested 2.
1 million bottles of wine last season, and many still have stocks in stock, creating an oversupply in the market
.
"

　　"It is important that these troubling market forces do not affect fair and equitable grape sourcing practices," AGW reported
.

　　"The relationship between wine growers and winemakers should be respectful and take into account the best interests of both parties
.
"

　　The Australian Competition and Consumer Commission has issued a notice to the industry that it will monitor the industry under its 2019 Wine Grape Market Study, with particular attention to potential breaches of the Competition and Consumer Act 2010 and other conduct that may hinder a competitive market
.

agricultural prices grape growing grapes

　　Robinvale, Victoria, grower Phillip Englefield said prices for red wine varieties, which were $550 a tonne last season, have fallen to between $300 and $330 a tonne
.

wine

　　"The real difficulty is we're going to have a lot of fruit that we won't be able to sell," Englefield said
.

China

　　"White wines are selling at more normal prices, but they're under the same pressure
.
"

　　"It is important that these troubling market forces do not affect fair and equitable grape sourcing practices," AGW reported
.

　　"The relationship between wine growers and winemakers should be respectful and take into account the best interests of both parties
.
"

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