The Australian wine industry is being hit hard by Chinese tariffs.
RaboResearch says there are almost three million bottles of wine in Australian storage, or enough wine to fill 859 Olympic swimming pools to put that number in perspective.
China was an avid purchaser of Australian products and that buying resumed this year with the removal of tariffs on Australian barley. However, even if the wine tariffs were removed today, it would take at least two years for producers to work through the excess supply.
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