China launches investigation into Aussie wine producers
The Chinese government is being accused of launching yet another attack on Australian producers after announcing an investigation into wine imports.
China’s Ministry of Commerce have launched an anti-dumping investigation into the Australian wine industry, citing claims bottles containing less than two litres of wine have been sold in China at reduced prices to crowd out local producers.
The share price of Australia’s largest producer Treasury Wines fell by 18 percent in early trade before being placed in a brief trading halt.
Australian Grape & Wine CEO Tony Battaglene told Deborah Knight he doesn’t believe the claims have any merit, but plans on “cooperating fully with the Chinese authorities to try and demonstrate our case”.
There is no immediate risk to exports he said, with the true impact likely to be felt after findings are handed down next year.
“We’re not the only industry to be struggling due to COVID, but on top of the bushfires, and with this potential risk it’s going to make a lot of people consider their jobs.”
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