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Trade Trends News
27-05-2024
Australian wine shipments to China surged in April as import tariffs were lifted for the first time in three years.
China imported $10.4 million worth of wine from Australia in April this year, up about 80 times from $126,045 in the same month last year, according to Chinese customs data. The volume of imports rose more than seven-fold year-on-year to 462,518 liters (813,918 pints).
As a result, Australia's share of China's wine imports rose from 1.45 percent in March to 10.52 percent last month, making it the third-largest supplier of wine after France and Chile.
China lifted punitive import tariffs of up to 218.4%, which had been in place since March 2021, at the end of March on the back of improved relations between Beijing and Canberra.
Prior to the imposition of the restrictions, Australia had been China's largest wine supplier, with a 37% market share in 2019.
Last year, France dominated the Chinese wine market with a 49% share worth $491 million. In April this year, its share was 46.7%. French wines are often considered overpriced.
Next Potential Category: Lobster
As Premier Li Qiang is expected to visit Australia next month, it is expected that Australia will further ease import restrictions, including lobster.
According to China Customs, China did not import Australian lobster in April, with Vietnam and New Zealand taking up 46% and 29.85% of the market share, respectively.
In 2019, Australia is China's largest lobster exporter with a market share of 54.9 percent, valued at $517 million.
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