{"id":14109,"date":"2024-03-29T08:43:35","date_gmt":"2024-03-29T03:13:35","guid":{"rendered":"https:\/\/www.indianwineacademy.com\/articles\/?p=14109"},"modified":"2024-03-29T10:45:03","modified_gmt":"2024-03-29T05:15:03","slug":"item_2_948","status":"publish","type":"post","link":"https:\/\/www.indianwineacademy.com\/articles\/item_2_948\/","title":{"rendered":"China removes prohibitive Duties on Aussie Wines"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"14109\" class=\"elementor elementor-14109\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4720b6a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4720b6a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-53f09f7\" data-id=\"53f09f7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70aab53 elementor-widget elementor-widget-text-editor\" data-id=\"70aab53\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Posted:Friday, 29 March 2024 09:10<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-ad9e937\" data-id=\"ad9e937\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-cccb2a7\" data-id=\"cccb2a7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1b4aea3 elementor-widget elementor-widget-text-editor\" data-id=\"1b4aea3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<iframe loading=\"lazy\" src=\"https:\/\/www.facebook.com\/plugins\/like.php?href=https%3A%2F%2Fdevelopers.facebook.com%2Fdocs%2Fplugins%2F&#038;width=450&#038;layout&#038;action&#038;size&#038;share=false&#038;height=35&#038;appId\" width=\"450\" height=\"35\" style=\"border:none;overflow:hidden\" scrolling=\"no\" frameborder=\"0\" allowfullscreen=\"true\" allow=\"autoplay; clipboard-write; encrypted-media; picture-in-picture; web-share\"><\/iframe>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9669605 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9669605\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b62f3ec\" data-id=\"b62f3ec\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c0e78f1 elementor-widget elementor-widget-text-editor\" data-id=\"c0e78f1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"row\">\n<div class=\"col-sm-12\">\n<h1 class=\"articlepagetitle_heading\">China removes prohibitive Duties on Aussie Wines <\/h1>\n<div class=\"articlepageintroline\">March 29: As expected during the last few days, the diplomatic parlays between China and Australia have resulted in  pull back of the  the tariffs, resulting in  optimism for a new start n trade  after the three-year trade campaign that put pressure on the Australian government and winemakers who have been feeling the glut since the tariff increase, writes Subhash Arora.<\/div>\n<div class=\"articledata\">\n<p>While  the Australians might be celebrating the revival of the billion-dollar wine  trade, the industry insiders believe the business will not expand back to the  pre-covid levels and the current problem of glut may continue&nbsp; for the  next 2-3 years at least.<\/p>\n<p>The  Ministry of Commerce in Beijing&nbsp; announced&nbsp; this decision on  Thursday, 4 days before the expected date of announcement, ahead of Good  Friday.&nbsp; It was eagerly awaited by the industry for weeks following  indications from Australian vintners and&nbsp; government&nbsp;&nbsp;that China  might lift the import taxes soon.<\/p>\n<p>&nbsp;In  a statement, the commerce ministry cited changes in the wine market conditions  in China as the reason behind the decision to no longer impose anti-dumping and  countervailing duties on Australian wine imports. The wine consumption in China  had taken a big dip around the Covid time and has still not recovered.<\/p>\n<p>This  move to remove trade restrictions has raised expectations of reviving the  profitable wine trade between the two nations. However, the national president  of the Australia China Business Council cautioned that winemakers might not  fully return to the market immediately.<\/p>\n<p>David  Olsson expressed to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-28\/china-scraps-tariffs-on-australian-wine-as-relations-improve\" target=\"_blank\" rel=\"noopener\"><font color=\"#990000\">Bloomberg<\/font><\/a> Television that while a significant portion of  the wine is expected to re-enter China, some producers had started looking at  the alternative markets during this period. Once bitten twice shy seems to be  the refrain. Thay are expected to continue exploring alternative markets due to  the changed landscape.&nbsp;&nbsp;<\/p>\n<p>The  imposition of tariffs by China on Australian wine, reaching as high as 218% in  March 2021, came in response to then-Prime Minister Scott Morrison&#8217;s call for  an international investigation into the origins of Covid-19. This decision  exacerbated an oversupply issue, crippling the Australian wine industry.<\/p>\n<p>In  2019, China was Australia&#8217;s primary destination for wine exports, amounting to  A$1.1 billion. With an estimated wine surplus lasting at least two years,  Australia found itself with an excess of 2.8 billion bottles in storage,  equivalent to 859 Olympic-sized swimming pools, according to a Report by  Rabobank in August last year.<\/p>\n<p>Relations  between the two countries began to mend following the election of Prime  Minister Anthony Albanese&#8217;s government in May 2022, culminating in Albanese&#8217;s  visit to Beijing in November of the same year. Some trade restrictions on other  Australian commodities had already been lifted, with China now accounting for  about 90% of Australia&#8217;s barley exports after tariffs were abolished in August.<\/p>\n<p>This action of China is not expected to affect the import of Australian wines to India as their efforts to penetrate will continue, thanks to the one-year old FTA between the two countries, that reduced duties on premium wines progressively during the next  10 years. That market is expected to continue growing though at a slower pace than wished by the Aussies. In fact, bitten by the arbitrary and sudden decision of China to impose the punitive duties, the Australian producers are expected to continue their efforts of expanding in the newer markets globally.<\/p>\n<p><strong>Subhash  Arora<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Posted:Friday, 29 March 2024 09:10 China removes prohibitive Duties on Aussie Wines March 29: As expected during the<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82],"tags":[135,158,569],"class_list":["post-14109","post","type-post","status-publish","format-standard","hentry","category-other-headlines","tag-aussie-wines","tag-china","tag-prohibitive-duties"],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","slider-bg":"","card-grid":"","card-list":"","morenews-featured":"","morenews-large":"","morenews-medium":""},"author_info":{"display_name":"admin","author_link":"https:\/\/www.indianwineacademy.com\/articles\/author\/admin\/"},"category_info":"<a href=\"https:\/\/www.indianwineacademy.com\/articles\/category\/other-headlines\/\" rel=\"category tag\">Other Headlines<\/a>","tag_info":"Other Headlines","comment_count":"0","_links":{"self":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/14109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/comments?post=14109"}],"version-history":[{"count":14,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/14109\/revisions"}],"predecessor-version":[{"id":14126,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/14109\/revisions\/14126"}],"wp:attachment":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/media?parent=14109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/categories?post=14109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/tags?post=14109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}