Australian Wine Exports Drop 10% as Inflationary Pressures Bite
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Australian wine exports slumped 10% in the 12 months to the end of June, driven by a fall in shipments to its biggest markets — the US and UK — as inflationary pressures crimp demand.
The total value of wine shipped dropped to A$1.87 billion ($1.26 billion), while export volumes fell 1% to 621 million liters, according to data from government export and marketing group Wine Australia.