Brexit uncertainty for wine sector: bank

The depreciation of the British pound (GDP) following the UK’s decision to leave the European Union could hurt demand for imported wine, including from Australia. The UK is the world’s largest market for imported wine by volume and is the largest importer of Australian wine. Agribusiness specialist lender Rabobank says sterling’s dramatic devaluation following Britain’s vote to leave the EU is of immediate concern because a lower pound means it’s more expensive for the UK to buy wine from overseas.