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Treasury Wine says it is ready to ship Australian bottles to China // Wine Paris extends international reach

February 15, 2024 - Wine Industry Insight Daily News Feed

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“California’s bulk wine market remains slow following a third-consecutive annual decline in wine sales volumes in the US and confirmation of a 2023 crop figure – 3.66 million tons – unlikely to stimulate demand. Inventory is significant and suppliers are being increasingly proactive in soliciting buyer interest. Consequently, there has been an uptick in European enquiries into Coastal wines – particularly Chardonnay – owing to the highly attractive price-quality ratio they now offer.”

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