Original article by Hans van Leeuwen
The Australian Financial Review – Page: 3 : 14-Jan-19
The prospect of a no-deal Brexit presents a big headache for the Australian wine industry. Australia is the biggest source for UK wine imports, with about 240 million litres of Australian wine exported to the UK each year. Of that, 80 per cent is sent in bulk and is bottled in the UK, with 25 per cent of that then being re-exported to the European Union. A no-deal Brexit is likely to result in delays in shipments of Australian wine from the UK as a consequence of new customs procedures. Winemakers are already stockpiling supplies in Europe, while in the longer term they may decide to choose to bottle wine in Europe or export bottled wine directly from Australia to Europe.
TREASURY WINE ESTATES LIMITED – ASX TWE, CASELLA WINES PTY LTD, AUSTRALIAN VINTAGE LIMITED – ASX AVG, THE YALUMBA WINE COMPANY, ACCOLADE WINES LIMITED