Australia set for 50% wine import boost in China8th October, 2013 by Livia Xin
Exports of Australian wine into China are expected to rise by 50% over the next three years, according to Weekly Times Now.
The rising affluence of China’s middle class has proved to be a promising opportunity for Australian wine producers. However, in order to capitalise on the boom, Australia should concentrate on producing wine for the premium end of the market, according to the National Australia Bank.
Dean Person, NAB’s head of industry analysis said that although the premium market in China was in its infancy, there is a huge potential for substantial growth.
“As China’s middle class continues to grow, so too should its demand for more premium products, including quality vintages that can’t be produced en masse locally,” said Pearson.
Imports of wines from EU countries has decreased sharply this year, according to Customs General Administration of China. It was estimated that a total of 20.61 million litres of wine were imported from EU this year, down by 27.9% compared with the same period last year.
However, import rates from Chile, Australia, the US, New Zealand and other non–EU countries is growing significantly. Especially Chile and Australia, which have the advantage of lower tariffs, and so are expanding market share rapidly in China.