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Understanding how to target consumer demand and manage supply chains as seamlessly as possible is critical to the success of any consumer goods business, particularly a wine business which often has longer, and global, supply chains. … China's imports of Australian wine more than doubled to 12.08 million litres between 2015 and 2019, the association said. Today, TWE is the largest single importer of wine in China thanks to a real commitment to building relationships and developing a deep understanding of its customers and consumers. 08/31: TREASURY WINE ESTATES: China verschärft Untersuchungen zu australischen Weinimp..: 01/28: TREASURY WINE ESTATES LIMITED: diminution des bénéfices au premier semestre: 2019: TREASURY WINE ESTATES LTD: Veröffentlichung des Halbjahresergebnisses: 2019: TREASURY WINE ESTATES LTD: publication des résultats semestriels: 2018: TREASURY WINE ESTATES … In a statement, the company said it would cooperate with any requests for information from the authorities and remained committed to China as a "priority market".
"While we have recently seen positive signs of recovery across a number of our key markets and channels, we are cautious on the near-term outlook given the uncertainty that remains around the pace of that recovery," said chief executive Tim Ford.
"The government will work with our internationally renowned wine industry to mount the strongest possible case against these claims," he added. China's imports of Australian wine more than doubled to 12.08 million litres between 2015 and 2019, the association said. The price of imports fell 13% to $6,723 a kilolitre, it added, citing Chinese customs data. Fleck believes Treasury (ASX: TWE) will benefit from rebounding demand in China and improved economic conditions following an expected vaccine in early 2021.
The Chinese Alcoholic Drinks Association requested the inquiry, asking the regulator to look into 10 Australian wine producers, including Treasury Wine Estates, the maker of Penfolds, and Accolade wines. 2020
(Reporting by Byron Kaye and Colin Packham in Sydney, and Emily Chow; Editing by Muralikumar Anantharaman and Lincoln Feast. Detailed analysis of wine sales and inventory in trade allows TWE to effectively and efficiently allocate luxury wines to markets and customers which are growing, while managing customer stock levels appropriately.
It would be detrimental, there's no doubt about it.". Australian wine exporters, including Treasury, faced blocks and delays in 2018 when Chinese customs officials held up shipments at a time of strained relations, after Australia accused Beijing of meddling in domestic affairs. China's commerce ministry said in an online statement it would now investigate some 37 Australian wine subsidy schemes following a request from the China Wine Industry Association.
Shares of Australia's biggest wine company, Treasury Wine Estates, tumbled more than 13%. Past performance does not necessarily indicate a financial product's future performance.
"As in the barley case they can apply a tariff across the board," he said.
The China Alcoholic Drinks Association said Australian wine producers had cut prices and were taking market share from local companies, which had seen a rapid deterioration in production and operating conditions. The market agreed on Wednesday, pushing the winemaker’s share price up more than 12 per cent to $12.85. China is the top market for Australian wine exports and is also Australia's largest trading partner, with two-way trade worth A$235 billion ($170 billion) last year. Treasury Wine Estates went into a trading halt this morning following news of the investigation. Treasury Wine Estates : China launches anti-dumping probe into Australian wine imports. China's recovery cold comfort as world struggles to climb out of covid hole. It then suspended some beef imports, before starting an investigation into dumping of Australian wine, an accusation Australia has refuted. "Our wine's more expensive than virtually any wine-exporting country in the world," he added. CFO Matt Young says TWE’s global strategy is to consistently build routes to market that enable it to be as close as possible to the consumer, particularly for its luxury wines, allowing the business to influence how its brands are marketed and priced. “These signal TWE’s long-term commitment to China.”, Copyright 2020 Asialink Business | All Rights Reserved |, Winning in Asia in the midst of COVID-19 and beyond. © 2020 Morningstar, Inc. All rights reserved. Treasury Wine Estates. While the strategy has benefited from continued premiumisation in Australia, North America and Asia, Treasury was disproportionately affected as consumers moved to at-home drinking during COVID related lockdowns. The investigation comes against a backdrop of increasing tension between the countries after Canberra called for an international inquiry into the origins of the novel coronavirus. The Chinese Alcoholic Drinks Association requested the inquiry, asking the regulator to look into 10 Australian wine producers, including Treasury Wine Estates, the maker of Penfolds, and Accolade wines.
To obtain advice tailored to your situation, contact a licensed financial adviser. The investigation by China's commerce ministry will look at imports of wine from Australia in containers of two litres or less in 2019, the ministry said in a statement, and examine any damage to the domestic wine industry from 2015 to 2019.
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