France destroying wine….

[ticklenow1]

https://www.bbc.com/news/world-europe-66623636

Interesting. Wonder if Australian wine consumption is dropping?

After China shafting Australian winemakers, to suffer a drop in consumption will certainly hurt our wine industry. Adding in cost of living pressures, it might be a rocky few years ahead.

Cheers
Ian

[Waiters Friend]

Hi Ian

I've been considering the China situation for some time. Presumably this is largely responsible for the plethora of 'mystery' deals that have been doing the round for the last couple of years. Good news for Australian consumers, but not good for the state of the Australian wine industry.

Given thlifting of the tariff on barley recently, Australian wine producers will be eagerly awaiting a similar announcement for Australian red wine. For consumers, that will spell a reduction in mystery wine offers.

The French situation has a different cause, and therefore a different lasting effect.

Cheers
Allan

[Chuck]

Reminds me of the wool boom and bust here decades ago. Rather than destroying the surplus wool it was warehoused in the hope the market improved. With continued over production and market penetration of synthetics it didn't and prices collapsed for decades until the flock was reduced dramatically. Maybe it they reduce prices to competed with new world wines things could improve. But this is France and they do things differently there. Rioting in the streets next?

[WineRick]

Hi Ian

I've been considering the China situation for some time. Presumably this is largely responsible for the plethora of 'mystery' deals that have been doing the round for the last couple of years. Good news for Australian consumers, but not good for the state of the Australian wine industry.

Given thlifting of the tariff on barley recently, Australian wine producers will be eagerly awaiting a similar announcement for Australian red wine. For consumers, that will spell a reduction in mystery wine offers.

The French situation has a different cause, and therefore a different lasting effect.

Cheers
Allan

Same cause: overproduction! .... and lack of forward thinking.