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Australian wine exports to China surged in April

Views: 8     Author: Site Editor     Publish Time: 2024-05-29      Origin: Site

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With import tariffs lifted for the first time in three years, Australian wine shipments to China surged in April, with analysts predicting that Australian wine producers will return to the lucrative Chinese market "quite quickly".

 

According to data from China Customs, China imported $10.4 million worth of wine from Australia in April, an increase of about 80 times from more than $126,000 in the same period last year. At the same time, import volume also increased more than seven times year-on-year to 462,500 liters. As a result, Australia's share of China's wine imports rose from 1.45% in March to 10.52% in April, making it the third largest wine supplier after France and Chile.


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In 2019, according to the 2015 China-Australia Free Trade Agreement, Australian wine finally ushered in zero tariffs in the Chinese market, and imports further rose to $865 million, with a market share of 35.54%, surpassing France in one fell swoop. Australia has also officially become China's largest source of wine imports.

 

But the good times did not last long. Due to changes in bilateral trade relations, in August 2020, the Ministry of Commerce issued an announcement to initiate an anti-dumping investigation on imported wines originating from Australia. That year, the import volume and value of Australian wines shrank significantly.

 

In March 2021, the Ministry of Commerce finally determined that there was dumping of imported wines originating from Australia, and began to impose tariffs of 116.2%-218.4% on Australian wines in containers of 2 liters or less, with an implementation period of 5 years from March 28, 2021.

 

In 2021, China's imports of Australian wines shrank by more than 90%, and Australia withdrew from the top five major sources of imported wines in my country.

 

With the termination of the "double anti-dumping" of Australian wines at the end of March 2024 and their return to the Chinese market, Australian wine import data began to recover rapidly.

 

It is precisely because of this change that people in Australia have begun to look forward to China's next step in lifting trade restrictions on lobsters. The South China Morning Post also believes that with the improvement of relations between the two countries and more high-level exchanges, it is expected that other import restrictions, including Australian lobsters, may be further relaxed.


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