March 7 2008, 15:36

Australian winegrowers still perceive the consequences of the record drought

During the recent 6 years the wine branch of Australia has stopped generating high revenues, "Fruit-Inform" weekly informs. The reasons are the drought, the low global prices for wine, and the excessive stocks of wine in the country. The situation has started to improve since recently. The Government of Australia has already officially declared its readiness to resume the ceased supplies. The main markets of Australian wine are still Great Britain, China and the USA. The popularity of wine has increased up to the record 124% in China in the recent years. Despite of this fact, there is nothing to be happy of: according to the analysts' forecasts, the producers can expect only for the sharply increased prices for grape in 2008; this fact will benefit the revenues of not only Australian winegrowers.