Treasury Wine Estates (TWE) and Pernod Ricard have welcomed the signing of a new China-Australia free trade agreement, which will end excise duty on Australian wine imports to the Asian country.
The agreement, signed last week, will phase out tariffs of 14-20% over the next four years as the countries look to bolster trade ties. China is Australia’s third-largest export market by value behind the US and the UK and accounts for 5.4% of Australian wine exports, or 11.8% in sales terms.

West Australian wine lovers can again toast to good tasting wine after winemakers wrapped up another outstanding vintage, continuing a stellar trend in the west. A sustained period of successful vintages across WA’s rich and diverse wine regions have been the envy of interstate wine industries, with 2015 another standout year. Low yields resulted in top-quality varieties south of the state, while the Swan Valley harvest is one of the best vintages on record, with yields spot on and quality buoyed by the cooler start to summer.

Accolade Wines, the second largest wine company in Australia, has a lot of work do to improve the performance of its recently-acquired Grant Burge Wines, which plunged to a loss of almost $10 million in its final year as a stand-alone firm. The Australian Financial Review can reveal that Barossa Valley-based Grant Burge Wines tumbled to a loss of $9.4 million after generating sales of $40.4 million in its last 12 months as an independent company.

Due to the region’s increasing interest in bubbles, the Champagne house has relaunched highlights of the Cordon Rouge range from the last 30 years as part of the new Collection du Chef de Caves.
Speaking at the launch in Hullett House, Mumm’s chief winemaker, Didier Mariotti explained the reason behind the move from the Reims-based champagne house. “Despite Australia still being the number one market for us in the Asia Pacific, Hong Kong has a lot of potential.”

The oldest and largest regional wine awards in the country were launched last night at a lavish affair at EIT in Taradale. About 50 people sipped on Sauvignon Blanc, Syrah and Chardonnay to officially open the Hawke’s Bay A&P Bayleys Wine Awards, 2015. Steve Smith, Master of Wine and one of New Zealand’s most respected wine industry leaders, will return to the judging panel. “After a decade, it’s great to be back. I’m thrilled to be joining a judging team again for an exceptional year on the back of three outstanding Hawke’s Bay vintages,” said Smith.

With the US Senate’s approval of a fast-track bill on Wednesday, the 12-nation trade deal may be just months away. Government ministers in the past have highlighted estimates the 12-country Trans-Pacific Partnership, which includes New Zealand and the United States, could deliver annual gains of $5.5 billion by 2025. For New Zealand, a TPP would open a door to a trade deal with the world’s largest economy, the United States, after 20 years of lobbying.

Australia is keen on liberalisation of the trade in agricultural products and professional services after the Thailand-Australia Free-Trade Agreement (TAFTA) has been in effect for 10 years, while foreseeing strong trade growth between the two nations. However, Somkiat Tangkitvanich, president of the Thai Development Research Institute, said Tariffs on imported wine, beverages and tobacco from Australia should be maintained. “The duties from those products are one of the major sources of income for the government.”

The next generation of Australia’s First Families of Wine will host consumer tasting event, Unleashed, in Western Australia on 28 August. The future leaders of Australia’s premium family-owned wine companies will bring together more than 100 trade and consumers at a yet to be announced Perth event space, before making their way through the Margaret River. Tomorrow morning they will explore and enjoy the Margaret River Region and spend time at the Burch Family Wines Estate.

US RETAIL giant Costco is trying to broaden the supermarket war to another front, taking its battle to sell alcohol in SA to the Supreme Court. The bulk-buy retailer has appealed to the state’s highest court for a licence to sell liquor at its Kilburn outlet. But the Australian Hotels Association is warning any such move — if approved — will set a dangerous precedent and be another stake in the heart of small alcohol retailers and SA wine producers, who are struggling to make a profit.

Wolf Blass has been named International Winery of the Year at the San Francisco International Wine Competition. Wolf Blass is the first Australian winery to win this award in over 15 years and only the second Australian winery in history. The Winery of the Year award recognizes the single winery earning the most points, measured by the number and level of awards won. Now in its 35th year, the San Francisco International Wine Competition is the largest International wine competition in America.