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The imposition of tariffs will effectively eliminate imports of wine for most Australian producers, market observers say, with exports worth A$1.1bn in 2020.
Buyout led by newly formed asset manager Prcstnt has collapsed, with all of McWilliam’s assets and brands up for sale again.
China’s Ministry of Commerce has opened an anti-dumping inquiry into Australian wine, after tariffs on barley were introduced earlier this year amid simmering trade tensions.
McWilliam’s Wines has been taken out of family ownership for the first time in more than 140 years after a sale to newly formed Prcstnt Asset Management.
One of Australia’s largest winemakers has entered the market after going into administration last month, with agents expecting ‘wide-ranging’ interest.
Interest from institutional investors and private equity remains strong in Australian agriculture despite difficult conditions because of a belief in the asset class’ ‘long-term thesis’.
ACCC makes 10 final recommendations for wine grape producers and warns that a mandatory code of conduct could be introduced in 12-18 months if sufficient progress is not made.
The Australian Competition and Consumer Commission has made a series of recommendations to try to increase transparency and certainty of pricing.
Meat processor Thomas Foods is selling the 5,728ha horticulture property, which has a High Security water entitlement for the Darling River.
The wine maker has agreed a 10-year PPA with Flow Energy for more than 9,000MWh of power each year at its New South Wales asset.
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