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Australia Wine Exports Hit as Aussie Surge Aids Bordeaux: Retail

Australia’s wine lovers are embracing European bottles as never before, exacerbating a decline in the local industry already suffering from plummeting exports.

With the Australian dollar at record levels against the euro, imported wine has rarely been more affordable. Prices for some labels have dropped by 30 percent. LVMH Moet Hennessy Louis Vuitton SA’s Moet & Chandon Champagne is now sometimes cheaper than the French company’s locally produced Domaine Chandon sparkling wine.