Feb.27--AUSTRALIAN Grape and Wine Authority (AGWA) data show Australian wine exports in 2014 increased eight per cent to 40 million litres year on year, little affected by Beijing's austerity measures that severely dented volumes in 2013.
News that bottled exports have almost recovered from before the austerity measures took hold in 2012 was welcomed by U-Freight, a key forwarder in the trade.
"The booming trade is expected to grow even faster this year following November's bilateral trade agreement between Australia and China. Once fully implemented, the agreement will remove China import tariffs on a range of Australian agricultural products, including wine," said its celebratory press release.
For Hong Kong - which scrapped all duties on wine imports several years ago - Australian exports by value in the ultra-premium segment grew 127 per cent to A$42 million (US$33 million).
(Source:shippingazette)