Casella finds high dollar unpalatable

Australia’s biggest wine exporter, Casella Wines, is looking at ways to raise prices across its highly successful Yellow Tail label as the high local dollar eats into its profit in its largest market, the United States. Recent accounts lodged with the Australian Securities and Investments Commission show revenue at Casella, Australia’s largest family-owned winery, fell 13 per cent in the 2011 financial year to $344.1 million as the high dollar hurt margins, The Australian Financial Review reports.