I thought I read most the loss has been picked up by the UK, and the US?I'm sure the leftover wine will still be there waiting to be sold after tomorrow morning. lol. Plenty more of these "oops, we put too many eggs in the China basket" deals to come too.
Is it known what's in the $80 magnum?
As a side note, interesting comment from the Department of Agriculture etc. (source): The composition of forecast falls in Australian production and exports is expected to change over the period to 2025–26. Following the loss of China as a major market, substitution by winemakers is expected towards lower-valued wines. It is likely that some grapes formerly used to produce high-value wine will be blended with other grapes to produce lower-value wine. It is expected this will happen relatively quickly because China was lost as a major export market before wineries started making wine from the 2020–21 wine grape harvest.
I'd be interested in those figures, what markets have increased in the timeframe they've lost shares in the Chinese market.