Penfolds to launch Chinese wine
With Australian wines all but non existent in the China due to punitive tariffs, Penfolds, owned by Treasury Wine Estates (TWE), is to launch a wine made in China later this year.
By releasing a wine produced in China it will, in effect, dodge the tariffs. Bloomberg reported this week that the bottles are expected in the second half 2022 and will be priced between A$30 and A$50.
The TWE group has been running trials in the country’s Ningxia (central-north China) and Shangri-la (south-west) regions, resulting in promising characteristics in fruit quality and flavour expression, infrastructure and vineyards.
Tony Battaglene, Chief Executive of Australian Grape and Wine, said the move was a way of keeping Australia present in the Chinese market.
I’m not really surprised. Most of our companies are going through a really difficult time because of the closure of the Chinese market so everyone is trying to diversify their supply chains. he told Australian radio station ABC Radio Adelaide.
